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Silicon Graphics Back In Ch. 11, This Time With Deal

Law360 (April 1, 2009, 12:00 AM EDT) -- Silicon Graphics Inc. ducked into bankruptcy court again on Wednesday — this time with the intent of selling assets to Rackable Systems Inc. for $25 million in cash — as the two high-tech outfits seek to join forces and strengthen their market position.

Rackable signed an agreement to acquire substantially all the assets of SGI, and to assume certain liabilities relating to the debtor's assets, according to SGI's petition in the U.S. Bankruptcy Court for the Southern District of New York.

SGI CEO Robert 'Bo' Ewald...
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