Rackable
Systems, Inc. (NASDAQ:RACK), a leading provider of ecological
servers and storage products for medium to large-scale data centers,
today announced that it received court approval to acquire substantially
all of the assets of Silicon
Graphics, Inc. (SGI) for $42.5 million in cash, plus the assumption
of certain liabilities associated with the acquired assets.
The sale, pursuant to an amended asset purchase agreement as approved
today in U.S. Bankruptcy Court in New York, allows Rackable Systems to
complete the previously announced transaction under Section 363 of the
U.S. Bankruptcy Code. The acquisition is anticipated to be completed by
approximately May 8, 2009, subject to closing conditions.
“We are pleased with today’s news,” said Mark J. Barrenechea, president
and CEO of Rackable Systems. “With this acquisition, Rackable will be
positioned to solve the most demanding business and technology
challenges our customers confront today. We believe we will have a
stronger company with differentiated product lines and professional
services; reaching commercial, government and scientific sectors on a
worldwide basis.”
Rackable and SGI customers will benefit from a comprehensive portfolio
of hardware, software and services, enabling the deployment of
technologies for large-scale data storage and management, clustered
compute scale-out, shared memory systems, visualization solutions, data
center solutions and HPC productivity tools.
To learn more and for further updates, please visit www.rackable.com/sgi.
Conference Call Information
Rackable Systems will discuss this update as part of its previously
announced Q1
earnings financial call taking place on Tuesday, May 5, 2009, at
2:00 p.m. PDT (5:00 p.m. EDT). The public will be invited to listen to a
live web cast of the call on the Investor Relations section of
Rackable’s website at investors.rackable.com.
A replay of the webcast will be available approximately two hours after
the conclusion of the call and remain available until the next earnings
call. An audio replay of the conference call will also be made available
approximately two hours after the conclusion of the call. The audio
replay will remain available for five days and can be accessed by
dialing 719-457-0820 or 888-203-1112 and entering the confirmation code:
5980490.
About Rackable Systems
Rackable
Systems, Inc. (NASDAQ:RACK) is a leading provider of Eco-Logical™
servers and storage for medium- to large-scale data center deployments.
