Global supercomputer leader Cray Inc. (NASDAQ: CRAY) said it has expanded its research and development team in Europe with the addition of key individuals from Gnodal Ltd.. Based in Bristol, England, prior to entering administration, Gnodal Ltd. was a recognized leader in high performance networks.
Through the agreement with the administrators of Gnodal Ltd., Cray hired the vast majority of the company´s employees and has subsequently more than doubled the size of Cray´s R&D team in Europe. Further, Cray purchased the key intellectual property developed by the Gnodal team. The move strengthens Cray´s R&D presence in Europe, while adding highly-skilled engineers and intellectual property to help drive Cray´s future systems and complete ongoing R&D contracts.
Cray´s purchase from Gnodal Ltd. was limited to the assignment of certain intellectual property rights including patents and design copyrights. In turn, Cray hired the vast majority of Gnodal Ltd.´s employees, who will now be working at Cray to develop new technology. Cray did not purchase the ongoing business operations of Gnodal Ltd., nor any of its stock in trade or accounts.
Global supercomputing leader Cray provides innovative systems and solutions enabling scientists and engineers in industry, academia and government to meet existing and future simulation and analytics challenges. Go to www.cray.com for more information.