Cray Acquires OctigaBay

Seattle-based supercomputer manufacturer Cray Inc. acquired, on April 1, 2004, privately owned OctigaBay Systems Corporation of Burnaby, British Columbia in an exchangeable share and cash transaction valued at approximately US$115 million completed by way of a plan of arrangement. OctigaBay is developing an innovative high performance computing system designed to make supercomputing performance available at a reduced price.

Cray was represented by in-house counsel Ken Johnson and by Fraser Milner Casgrain in Vancouver, with a team that included Blair Horn, James Beeby and David Frost (M&A), Gordon Funt and Lori Mathison (tax), Gary Clarke (employment matters) and James Schmidt (litigation); and by US counsel Stoel Rives, with a team that included Christopher Voss and Todd Barker (M&A) and Andrew Zuccotti (tax).

OctigaBay was represented by McCarthy T├ętrault in Vancouver, with a team that included Ted Koffman, Brian Vick and Dan Steiner (M&A), Brent Kerr (tax), Matthew Peters (intellectual property matters) and Warren Milman (litigation); and by US counsel Gary Kocher and Annette Elinger of Preston Gates & Ellis LLP. Craig Wright and Alex Kilgour (M&A) and Dov Begun (tax) of Osler, Hoskin & Harcourt provided advice to certain shareholders of OctigaBay.

Lawyer(s)

Christopher J. Voss Warren B. Milman Matthew D. Peters James D. Beeby Brian E. Vick Aaron D. Barker Gary J. Kocher Daniel E. Steiner A. Brent Kerr Lori Anne Mathison Ted I. Koffman Gary T. Clarke Alex J. Kilgour Annette Becker Dov B. Begun Blair J.H. Horn James R. Schmidt David S. Frost Gordon S. Funt