posted by Thom Holwerda on Fri 1st May 2009 20:42 UTC
IconNiche server maker Rackable Systems said this morning that the U.S. bankruptcy court in New York handling the Chapter 11 proceedings for supercomputer maker Silicon Graphics has approved Rackable's acquisition of most of the assets of SGI. Under the deal that was announced on April 1, the same day that SGI filed for bankruptcy protection, Rackable said it would be shelling out $25m to acquire most of the assets of SGI as well as assuming "certain liabilities" that were not specified. In the announcement today, that figure has risen to $42.5m in cash. The liabilities that Rackable is assuming have not been detailed.
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