Hewlett Packard Offers $275 Million For Silicon Graphics International

Hewlett Packard Enterprise announced plans late Thursday to buy Silicon Graphics International Corp. in a deal valued at $275 million. Hewlett Packard, which was spun off from HP Inc. last November, said the acquisition would help to extend its capabilities in big data analytics. The company offered $7.75 a share in cash for SGI, whose shares closed up 8.7% to $5.98 on Thursday. Shares of Hewlett Packard were inactive in after-hours trade, but they rose 1% to $21.78 in the regular session, pushing them up 26% in the past three months, versus a 6% improvement for the S&P 500 . SGI has roughly 1,100 employees worldwide, and had revenues of $533 million in fiscal 2016.