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Technology / AI and automation

CRAY ELECTRONICS BUYS SAM SYSTEMS

Milton Keynes-based Cray Electronics Holdings Plc is buying again, but this one is not going to set the market alight because the target is SAM Systems Services Ltd, a Manchester-based developer of Unix applications for the building, food distribution, furnishing and brewing sectors. Cray is paying UKP2.7m in the form of 1.48m new Cray shares valued at 182 pence a time. SAM did pre-tax profits of UKP235,000 in its fiscal 1993 on sales of UKP2.77m. Separately, Cray announced that its South African partner Persetel Networks Ltd will use Cray’s FPX 2000 fast packet switch to link the country’s cellular telephone network and replace the existing analogue network in a contract worth some UKP10m. Mobile Telephone Networks Ltd has spent over UKP180m on a network, cellular base station and switch infrastructure which has been completed in six months.

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CBR Staff Writer

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