BUSINESS BRIEFING / COMPUTERS
TIMES WIRE REPORTS
Computer maker Silicon Graphics Inc. filed for bankruptcy protection for the second time in three years and agreed to sell most of its assets to Rackable Systems Inc. for $25 million.
Shares of Silicon Graphics of Sunnyvale, Calif., plunged 23 cents to close at 18 cents. Shares of Rackable Systems, a Fremont, Calif., maker of server and data storage products, shed 18 cents to $3.88.
In U.S. Bankruptcy Court documents, Silicon Graphics said it had been scrambling to find a buyer for months but couldn’t secure a deal even after contacting about 150 potential suitors.
