Cray Electronics Plc is going for a complete change of image as part of an effort to remake itself as a networking software and services house with a declining networking hardware business tacked on – and to persuade the world that it really means business, it wants shareholders to approve a change of name to Anite Group Plc. In the meantime, the Cray Systems software and services arm becomes Anite Systems, creating a business with 85m British pounds in annual sales and capable of generating 6m to 7m pounds in operating profit. Another services company, the network integration business of Cray Communications, will be created under the Anite Networks name, and is forecast to break even or a bit better on turnover of about 100m pounds a year. And, making it clear that the networking and communications equipment company, mainly derived from the Case Group Plc acquisition, is in the doghouse and is likely to be sold, Cray has decided not to give it a shiny new Anite name, but instead bring back a blast from the past and call it Case Technology Ltd. It is losing money on 90m pounds a year.
