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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.

The markets may be...