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CRAY INC. (CRAY)
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Cray : Takes Aim at Fast-Growing HPC Storage Market With Completion of Strategic Transaction of Seagates ClusterStor Storage Business

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09/26/2017 | 02:13pm CEST

(GlobeNewswire) - Global supercomputer leader Cray Inc. (Nasdaq:CRAY) today announced it has completed the previously announced transaction and strategic partnership with Seagate centered around the addition of the ClusterStorTM high-performance storage business.

With the strategic transaction now complete, Cray will continue to sell, support, develop, manufacture, and test ClusterStor storage solutions with Lustre, including the ClusterStor L300, the next-generation ClusterStor L300N and the ClusterStor SL220.

Storage is the fastest-growing part of the expanding HPC market and Cray is positioned to be an even more important player in the storage market, said Steve Conway, senior vice president of research atHyperion Research. As a pioneer in providing large-scale storage systems for supercomputers, its fitting that Cray will take over the ClusterStor line.

Cray will also continue to provide support for the ClusterStor product line for existing customers and will collaborate with Seagate to integrate future Seagate technologies into Cray storage products.

We are working to provide customers and partners with a seamless transition of the ClusterStor storage business to Cray, said Peter Ungaro, president and CEO of Cray. With the constant growth of data and the need to move it quickly for data-intensive simulations and artificial intelligence models, the addition of the ClusterStor line enhances an important piece of our product portfolio. With the transition complete, ClusterStor customers and partners will be able to get purpose-built high-performance storage systems with industry-leading price/performance that are designed, manufactured, and supported by Cray and our partners.

Cray will offer service and support for the more than 20 ClusterStor partners and resellers by incorporating a comprehensive service toolkit, shorter escalation path to development, and a single knowledge base.

Asa long-time customer of Cray and Seagate storage systems,who arecommitted to the development of extreme-scale computing, we are thrilled to see Cray continue the development of this product, said Prof. Dr.Thomas C. Schulthess, director of the Swiss National Supercomputing Centre (CSCS). The addition of ClusterStor is a logical next step for Cray and our researchers and scientists will clearly benefit from this enhancement.

The advantage of Crays ClusterStor lineis its ability to makeHPC storage systems simpler. ClusterStoris designed to reduce the complexity in the storage system to enable seamless system design, easy installation, workload management, data flow, scalability, system efficiency, and faster time to results. ClusterStor systems balance the value equation to achieve the right performance levels, scalability, and availability, all at the right budget.

This move by Cray not only shows a commitment to the success of the ClusterStor storage systems, but also shows Crays commitment to the broader success of Lustre technology for HPC, said Sarp Oral, president of OpenSFS. For the Lustre community, we believe this transaction will benefit users by increasing engagement.

The Lustre-based ClusterStor storage solutions enhance Crays portfolio to provide its customers end-to-end solutions,saidAmita Potnis, research manager, IDC, Inc. As data sprawl continues, customers can leverage ClusterStor storage solutions to gain insights through machine learning and artificial intelligence across many industries.

Cray has added more than 125 employees and contractors and has assumed customer support obligations associated with the ClusterStor product line. The agreement was previously announced on July 26, 2017.

About Cray Inc.Global supercomputing leader Cray Inc. (Nasdaq:CRAY) provides innovative systems and solutions enabling scientists and engineers in industry, academia and government to meet existing and future simulation and analytics challenges. Leveraging more than 40 years of experience in developing and servicing the worlds most advanced supercomputers, Cray offers a comprehensive portfolio of supercomputers and big data storage and analytics solutions delivering unrivaled performance, efficiency and scalability. Crays Adaptive Supercomputing vision is focused on delivering innovative next-generation products that integrate diverse processing technologies into a unified architecture, allowing customers to meet the markets continued demand for realized performance. Go to www.cray.com for more information.

Safe Harbor StatementThis press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements related to the expected benefits of the transaction and partnership, the extent of the collaboration between the Company and Seagate and the Companys ability to expand its product offerings and drive growth with this transaction. These statements involve current expectations, forecasts of future events and other statements that are not historical facts. Inaccurate assumptions and known and unknown risks and uncertainties can affect the accuracy of forward-looking statements and cause actual results to differ materially from those anticipated by these forward-looking statements. Factors that could affect actual future events or results include, but are not limited to, the risk that Cray is not able to realize the expected benefits of the transaction and partnership, the risk that Cray is not able to expand its addressable market and drive growth as a result of this transaction as expected or at all, the risk that the Company and Seagate do not collaborate as extensively as planned and such other risks as identified in the Companys quarterly report on Form 10-Q for the quarter ended June 30, 2017, and from time to time in other reports filed by Cray with the U.S. Securities and Exchange Commission. You should not rely unduly on these forward-looking statements, which apply only as of the date of this release. Cray undertakes no duty to publicly announce or report revisions to these statements as new information becomes available that may change the Companys expectations.

Cray and the stylized CRAY mark are registered trademarks of Cray Inc. in the United States and other countries, and ClusterStor is a trademark of Cray Inc. Other product and service names mentioned herein are the trademarks of their respective owners.

Cray Media:Juliet McGinnis206/[email protected]

Cray Investors:Paul Hiemstra206/[email protected]

(c) 2017 Fars News Agency. All rights reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 401 M
EBIT 2017 -50,9 M
Net income 2017 -
Debt 2017 -
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
Capi. / Sales 2017 1,90x
Capi. / Sales 2018 1,65x
Capitalization 763 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 21,3 $
Spread / Average Target 13%
Managers
NameTitle
Peter J. Ungaro President, Chief Executive Officer & Director
Stephen C. Kiely Non-Executive Chairman
Wayne J. Kugel Senior VP-Operations & Customer Support
Brian C. Henry Chief Financial Officer & Executive Vice President
Steven Lee Scott Chief Technology Officer & Senior Vice President
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