Cray acquires bankrupt company's IP, hires most of its workers

|About: Cray Inc (CRAY)|By:, SA News Editor

Cray (CRAY +0.2%) has reached a deal to acquire IP developed by Gnodal Limited, a U.K.-based maker of Ethernet switches that recently went into administration. Cray is also hiring the "vast majority" of Gnodal's workers, a move the company says more than doubles the size of its European R&D team. (PR)

Gnodal's high-density, low-latency switches were aimed at many of the same high-performance computing applications and projects targeted by Cray's supercomputers and high-performance storage hardware. Cray notes it has scored several European supercomputer wins over the last 12 months.

News of the deal comes a day after Cray shares fell in tandem with peer SGI, which announced in its Sep. quarter report it was suspending guidance due to a lack of U.S. federal visibility. Cray's Q3 report arrives on Nov. 11.