Rackable Systems Completes $42.5M SGI Acquisition
Rackable Systems Inc., an IT-hosting services provider for medium- to large-scale data centers, announced today that its $42.5 million cash acquisition of Silicon Graphics Inc. has closed. The transaction, which helped bail SGI out of bankruptcy, was originally reported April 1 for the amount of $25 million. The discrepancy between the initially reported and actual amounts was not explained. Based in Fremont, Rackable said it will adopt SGI as its global name and brand. Mark J. Barranechea, Rackable's president and chief executive, will lead the new SGI in the same capacity, Rackable noted, adding that its board of directors will also remain unchanged.
posted on Monday, May 11, 2009
Related companies:
Rackable
Related stories:
> Rackable Buys Terrascale
> Rackable Buys SGI Out Of Bankruptcy
> Rackable Systems Looks To Sell Storage Business
> IntelliBatt Raises $22M For Data Center Power
> Symyx Technologies Completes MDL Information Systems Acquisition
silicontap.com Home