Hewlett Packard Enterprise Co. has agreed to buy Silicon Graphics International Corp. for about $275 million, a deal that will enhance HPE's data analytics and high-performance computing operations.

HPE will pay $7.75 a share, a 30% premium to Thursday's closing stock price. In after-hours trading, SGI shares rose 28% to $7.65.

HPE said the deal expands its presence in sectors including government, research and life sciences.

SGI, which makes server, storage, and software products, reported fiscal fourth-quarter results on Thursday. Its revenue declined to $123 million from $153 million a year earlier.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

August 11, 2016 17:05 ET (21:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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