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Hewlett Packard Enterprise to Acquire SGI to Extend Leadership in Big Data Analytics

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sgby Angela Guess

A new press release reports, “SGI, a global leader in high-performance solutions for compute, data analytics, and data management, today announced that it has signed a definitive agreement to be acquired by Hewlett Packard Enterprise (HPE) for $7.75 per share in cash, a transaction valued at approximately $275 million, net of cash and debt. SGI products and services are used for high-performance computing (HPC) and big data analytics in the scientific, technical, business and government communities to solve challenging data-intensive computing, data management and virtualization problems. The company has approximately 1,100 employees worldwide, and had revenues of $533 million in fiscal 2016.”

The release continues, “The explosion of data — in volume and variety, across all sectors and applications — is driving organizations to adopt high-end computing systems to run compute-intensive applications and big data workloads that traditional infrastructure solutions cannot handle. This includes investments in big data analytics to quickly and securely process massive data sets and enable real-time decision making. High-end systems are being used to advance research in weather, genomics and life sciences, and enhance cyber defenses at organizations around the world. As a result of this demand, according to International Data Corporation (IDC), the $11 billion HPC segment is expected to grow at an estimated 6-8% CAGR over the next three years, with the data analytics segment growing at over twice that rate.”

Read more at Marketwired.

Photo credit: SGI

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