Datacentre specialist Rackable said that it will use the SGI assets acquired in the deal to bolster its high-performance, cluster and cloud computing businesses.
"The combined company will be positioned to solve the most demanding business and technology challenges that our customers confront today," said Rackable president and chief executive Mark J. Barrenechea.
The deal came shortly after SGI filed for Chapter 11 bankruptcy protection in the US. The company had been struggling to stay afloat following a 2006 restructuring, and was faced with a delisting from the Nasdaq stock exchange last month.
"We have been working very hard to strengthen our company, and today we've taken another big step in that direction," said SGI chief executive Robert Ewald.
"This transaction represents a compelling opportunity for SGI's customers, partners and employees, who can all benefit from the emerging stronger company with better technologies, products and markets reach."
The transaction is expected to close within 60 days, pending an approval by the US Bankruptcy Court.
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