Hewlett Packard Enterprise to buy supercomputer maker Cray in a $1.3 billion deal
New server racks in the Hewlett Packard Enterprise Executive Briefing Center feature the new branding.

Supercomputer manufacturer Cray said on Friday it would be bought by Hewlett Packard Enterprise in a deal valued at about $1.3 billion.

The $35 per share value represents a premium of 17.4% to Cray's last close. The deal is expected to close by the first quarter of HPE's fiscal year 2020.

The deal was originally reported by Bloomberg.