Feeds

SGI to emerge from bankruptcy cocoon in September

Servers made with less debt

Designing a Defense for Mobile Applications

SGI hopes to emerge as a leaner, meaner organisation by the end of the third quarter.

The hardware maker this week filed an amended reorganisation plan that calls for it to finish off bankruptcy proceedings by September. If all goes as expected, SGI will trim its total debt down to $70m from $345m. Some of the debt will be removed in exchange for the privilege of investing more money in SGI 2.0.

"We are pleased with the progress the company is making and the likelihood of an exit by the end of September," SGI CEO Dennis McKenna said. "With the financial re-engineering process nearing completion, the company is working in parallel on its operational initiatives to improve performance. We look forward to focusing 100 per cent of our efforts on executing our new strategies."

SGI's plans must be approved by a bankruptcy court.

Central to SGI's emergence will be a more diverse product line. At the end of last month, SGI announced Xeon-based servers that will complement its struggling Itanium-based product line. CEO McKenna laid out more of SGI's product plans here. ®

The Power of One eBook: Top reasons to choose HP BladeSystem

More from The Register

next story
Apple fanbois SCREAM as update BRICKS their Macbook Airs
Ragegasm spills over as firmware upgrade kills machines
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Attack of the clones: Oracle's latest Red Hat Linux lookalike arrives
Oracle's Linux boss says Larry's Linux isn't just for Oracle apps anymore
THUD! WD plonks down SIX TERABYTE 'consumer NAS' fatboy
Now that's a LOT of porn or pirated movies. Or, you know, other consumer stuff
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.