Compaq to Buy Into Computer Graphics Firm : Deals: The 13% stake in Silicon Graphics is expected to give both firms a big boost in the workstation market.

SAN FRANCISCO —  In a move that foreshadows the emergence of a new breed of high-performance personal computers, Compaq Computer will pay $135 million for a 13% stake in computer workstation vendor Silicon Graphics as part of a broad technology-sharing agreement between the two.

Houston-based Compaq will also provide Mountain View-based Silicon Graphics with $50 million in research and development funds and will gain broad access to the cutting-edge computer graphics technology that has made Silicon Graphics a leading supplier of powerful workstations used for product design and simulation.

Although they would not specify which kinds of products might emerge from what was characterized as a “long-term strategic relationship,” the two firms are widely expected to announce next Tuesday that they are joining with Digital Equipment, Microsoft and the Santa Cruz Organization to develop a desktop computer that uses a powerful new computer-on-a-chip from Mips Computer Systems.

Personal computer companies such as Compaq have been searching for a way to counter a growing challenge from Sun Microsystems and other vendors of computer workstations. While workstations were once used exclusively by engineers and scientists, they have been gaining popularity among commercial customers because of rapid price reductions--some now cost as little as $5,000--and improved software.

Silicon Graphics specializes in powerful workstations costing as much as $100,000 that are used for three-dimensional modeling and other technical tasks. The company has been trying to expand the use of its widely respected graphics hardware and software by introducing cheaper machines and special cards that can be plugged into personal computers.

Silicon Graphics has also licensed its technology to International Business Machines and Tuesday announced that Microsoft would license some of its graphics software.

The deal with Compaq is more far-reaching and includes not only an equity investment but also an agreement to cooperate in development, manufacturing and marketing of future products. “We are both very complimentary companies,” said Silicon Graphics President and Chief Executive Edward McCracken. “We have advanced technology, and they’re real marketing leaders.”