HP spinoff to buy supercomputer maker Cray for $1.3 billion

Hewlett Packard Enterprise (HPE) has agreed to buy supercomputer manufacturer Cray for about $1.30 billion. HPE said Cray investors will get $35 a share in cash, a premium of over 17% to Cray's Thursday closing price of $29.81. It added it expects to incur one-time integration costs that will be absorbed within its fiscal year 2020 free cash flow outlook.