Fenwick & West represented Cray, Inc. (Nasdaq: CRAY), a global supercomputer leader, in its announced acquisition by Hewlett Packard Enterprise (NYSE:HPE). The companies have entered into a definitive agreement under which HPE will acquire Cray for $35.00 per share in cash, in a transaction valued at approximately $1.3 billion, net of cash.
Together, HPE and Cray will have enhanced opportunities for growth and the integrated platform, scale and resources to lead the Exascale era of high performance computing. The combined company will also reach a broader set of end markets, offering enterprise, academic and government customers a broad range of solutions and deep expertise to solve their most complex problems. More information about Cray’s acquisition by Hewlett Packard Enterprise can be obtained from the company announcement.
Fenwick has served as primary outside counsel to Cray, Inc. for a decade, led by corporate partners Alan Smith and David Michaels. The Fenwick transaction team was led by corporate lawyers Alan Smith, David Michaels, Stephen Fisher, Chris Gorman, Amy Zhang, Joshua Fuller, Meredith Evancie, James Evans, Katherine Duncan, Brian Cai; executive compensation and employee benefits lawyers Scott Spector, Elizabeth Gartland, Sarah Ghulamhussain, Patrick Grilli; IP and technology transaction lawyers Ralph Pais, Mike Farn, Bryan Kohm, Ed Heffernan, Joseph Schenck, Shitel Chanana, Gina Damiano, Floris de Wit, Julia Chung, Amy Brown, Shizuka Tiernan; antitrust lawyer Mark Ostrau; and tax lawyer Ora Grinberg.