SEATTLE, WA--(Marketwire - Feb 8, 2012) - Global supercomputer leader Cray Inc. (NASDAQ: CRAY) today announced it has created a new division within the company focused exclusively on delivering solutions for the rapidly-growing, multi-billion dollar "Big Data" market. This division, called YarcData, will be led by Arvind Parthasarathi, who has been appointed to the new position of senior vice president and general manager of YarcData.
Broadly expanding the scope of what was previously Cray's Knowledge Management practice, YarcData will provide differentiated, business-focused and cost-effective Big Data solutions for enterprises worldwide. The new division will consist of Cray employees spanning several functions of the company, including research and development, marketing, sales, services and support. By creating a division within the company that is dedicated to the needs of enterprise customers, YarcData signifies Cray's commitment to serving the Big Data analytics market.
"Cray is best known for building supercomputers that can run massive scientific and engineering simulations, and from that work we have developed unique technologies and amassed significant experience working with some of the largest data-intensive environments in the world," said Peter Ungaro, president and CEO of Cray. "This makes our entry into the Big Data market a natural evolution. I am extremely excited to have a proven executive like Arvind helping us bring our leading supercomputing technology to enterprise customers that are trying to gain insight and harness value from the explosion of data happening in their businesses today."
Prior to joining Cray, Parthasarathi was with Informatica Corporation, where he served as senior vice president and general manager of the company's fast growing Master Data Management business unit. In this role, he led a global team delivering business-focused data management solutions for life sciences, financial services, retail, manufacturing, healthcare and government. Previously, Parthasarathi served as vice president of product management for Informatica's Data Quality products and before that he was a senior director responsible for data migration and data integration solutions. Prior to Informatica Corporation, Parthasarathi held various positions at i2 Technologies and Oracle Corporation.
"YarcData is the nexus of the world's most advanced technologies from Cray being applied to solve the world's most challenging Big Data problems," said Parthasarathi. "The Big Data market is in its infancy and YarcData solutions will fill an important and unmet need in enterprise Big Data processing. This is a unique opportunity to deliver Cray's high performance technology to meet 21st century Big Data challenges, and I look forward to building a successful future for YarcData, Cray and our customers worldwide."
About Cray Inc.
As a global leader in supercomputing, Cray provides highly advanced supercomputers and world-class services and support to government, industry and academia. Cray technology is designed to enable scientists and engineers to achieve remarkable breakthroughs by accelerating performance, improving efficiency and extending the capabilities of their most demanding applications. Cray's Adaptive Supercomputing vision is focused on delivering innovative next-generation products that integrate diverse processing technologies into a unified architecture, allowing customers to surpass today's limitations and meeting the market's continued demand for realized performance. Go to www.cray.com for more information.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements related to Cray's ability to meet the needs of the Big Data market and expand and penetrate its addressable market. These statements involve current expectations, forecasts of future events and other statements that are not historical facts. Inaccurate assumptions and known and unknown risks and uncertainties can affect the accuracy of forward-looking statements and cause actual results to differ materially from those anticipated by these forward-looking statements. Factors that could affect actual future events or results include, but are not limited to, the risk that Cray's YarcData solutions are not successful, the risk that Cray will not be able to expand and penetrate its addressable market as expected or at all and such other risks as identified in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2011, and from time to time in other reports filed by Cray with the U.S. Securities and Exchange Commission. You should not rely unduly on these forward-looking statements, which apply only as of the date of this release. Cray undertakes no duty to publicly announce or report revisions to these statements as new information becomes available that may change the Company's expectations.
Cray is a registered trademark of Cray Inc. in the United States and other countries and YarcData is a trademark of Cray Inc. Other product and service names mentioned herein are the trademarks of their respective owners.