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Wachtell, Fenwick Shape Hewlett-Packard's $1.3B Cray Buy

Law360 (May 17, 2019, 10:33 AM EDT) -- Hewlett-Packard, led by Wachtell, unveiled plans Friday for a $1.3 billion takeover of Fenwick client and supercomputer company Cray as it looks to meet growing data processing needs.

California-based Hewlett Packard Enterprise lauded Cray Inc.’s success at offering supercomputer solutions to clients who need to process large amounts of data. The deal is expected to better position Hewlett-Packard to tap into the growing high-performance computing market segment, which is expected to reach $35 billion in 2021.

“This is an amazing opportunity to bring together Cray’s leading-edge technology and HPE’s wide reach and deep product portfolio, providing customers of all sizes with...

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