Orlando, FL 4/25/12 (StreetBeat) -- Intel Corp. (Nasdaq: INTC) said it will pay $140 million in cash to buy some networking assets from Cray Inc. (Nasdaq: CRAY).Intel said Tuesday it will buy interconnect technology and some intellectual property from Cray, which provides and supports supercomputers.
Up to 74 Cray employees are expected to join Intel after the deal.
Intel, based in Santa Clara, Calif., is locating an East Coast headquarters at the University at Albany's College of Nanoscale Science and Engineering.
Cray is trading at $9.00, up $1.96 or 27.84% in early morning trading.
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