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Actionable news in SGI: Silicon Graphics International Corp,

Silicon Graphics (SGI) Stock Surges, to be Acquired by HP Enterprise

NEW YORK (TheStreet) -- Shares of Silicon Graphics Int'l (SGI) were jumping 28.76% to $7.70 on heavy trading volume midday Friday after the company agreed to be acquired by Hewlett Packard Enterprise (HPE) in a deal worth $275 million.

After yesterday's closing bell, HPE said it would buy the Fremont, CA-based computer hardware and software company for $7.75 per share.

The deal is expected to close in HPE's 2017 fiscal first quarter, pending regulatory approval.

Oppenheimer said it has mixed views on the acquisition overall.

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