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SGI Sells Alias Subsidiary to Accel-KKR

Posted by ryuzaki0 on from the corporate-yard-sales dept.

dmehus writes "SGI on Thursday announced it has agreed to sell its Alias subsidiary for $57.5 million in cash to Accel-KKR. Interestingly enough, Accel-KKR owns GroceryWorks, which powers and provides the online version of Safeway. After transaction costs and other items, SGI said it expects net proceeds from the sale come in line at $50 million. Slashdot covered this story in February, saying that SGI was rumoured to be in talks with an unnamed private equity firm, but now it is confirmed."

1 of 154 comments (clear)

  1. They outsource as well by Anonymous Coward · · Score: 2, Troll

    They will probably sell a lot more of the non essential business units as they have done with Cray and Alias Wavefront. They have even resorted to the ever so sleazy practice of exporting jobs to India.

    It is said a fox will knaw off its own leg to escape from a trap. We can see the same is true of two bit companies with outdated technology.