Silicon Graphics files for Chap 11 and is sold to Rackable for $25 Million

[Christian Liendo]

For those Silicon Graphics people out there:

http://blogs.barrons.com/techtraderdaily/2009/04/01/end-of-an-era-rackable-systems-to-buy-silicon-graphics-for-25-million-sgic-holders-likely-to-get-nothing/

http://www.reuters.com/finance/stocks/keyDevelopments?symbol=SGIC.W&timestamp=20090401114800&rpc=66

Rackable Systems, Inc. Announces Agreement To Acquire Silicon Graphics Inc
7:48am EDT

Rackable Systems, Inc. announced its agreement to acquire
substantially all the assets of Silicon Graphics, Inc. (SGI) for
approximately $25 million in cash, subject to adjustment in certain
circumstances, plus the assumption of certain liabilities associated
with the acquired assets.

Silicon Graphics, Inc. Files For Chapter 11 Bankruptcy-Reuters
6:44am EDT

Reuters reported that Silicon Graphics, Inc. filed for bankruptcy
protection in a New York court. The Company listed assets of $390.5
million and total debt of $526.5 million in its Chapter 11 filing.