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SGI name lives on after $42.5 million sale to Rackable Systems
As you know, Rackable Systems was originally hoping to acquire the one-time king of the 3D set for $25 million (with some speculating that even that was a bit much), but it looks like the bankruptcy judges had other plans. Now that the dust has settled (and a check has been cut for almost twice the original asking price) it looks like the two companies will finally merge, forming an outfit called... SGI. The newly minted Silicon Graphics International hopes to combine the strong server business of Rackable with the original Silicon Graphics Inc. name (and overseas service contracts), inspiring the same sort of technological alchemy that once brought the iconic brand to the silver screen by way of such fine cinematic fare as First Kid. In addition, SGI plans continued development and support for the existing Silicon Graphics and Rackable product lines. Quite frankly, we really don't care what they do, as long as they bring back the Indigo -- back in the day we would have killed for one of those bad boys.
SGI to sell itself for just $25m, throw huge sadness party
Man, the difference a few years decades makes. In the 90s, Silicon Graphics helped create silver screen mega-hits like Jurassic Park and Terminator 2, and in 1997, its fiscal year sales totaled $3.66 billion. Today, the company's mired in its second bankruptcy, which has occurred just three years after the first. In order to just terminate the dream before it gets any more nightmarish, SGI has announced plans to sell itself to Fremont-based Rackable Systems for a mere $25 million -- and some analysts are even concerned that the suitor here could be sinking its teeth into a sour deal. The agreement still has to be approved by a bankruptcy judge, and of course, there's still a few more inches of red tape to cut through, but we'll be sure to let you know when the fantasy ends and the wake begins.
