• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Intel To Acquire Wind River Systems For $884 Million

Posted on: Friday, 5 June 2009, 05:55 CDT

An $884 million deal to purchase software maker Wind River Systems was finalized on Thursday by Intel. 

The Santa Clara, California-based company is making plans to get its chips into more devices. 

In a unanimous vote by Wind River’s board of directors, the US semiconductor giants’ proposal to acquire all outstanding Wind River common stock for $11.50 per share was accepted.

The takeover of Wind River supports Intel’s new tactic to surpass its customary markets in personal computers and servers and shift into mobile handheld devices and other systems. 

Intel vice president Renee James expects the acquisition “will bring us complementary, market-leading software assets and an incredibly talented group of people to help us continue to grow our embedded systems and mobile device capabilities.”

"Wind River has thousands of customers in a wide range of markets, and now both companies will be better positioned to meet growth opportunities in these areas," James said. 

Wind River chairman, president and chief executive Ken Klein stated the agreement would be reciprocally advantageous in nature.  

"As a wholly owned subsidiary, Wind River will more tightly align its software expertise to Intel's platforms to speed the pace of progress and software innovation," he said.

The deal is projected to be finalized later this year subject to regulatory endorsement, Intel said.

Established in 1981, the Alameda, California-based Wind River employs more than 1,600 people. Last fiscal year the company reported an annual revenue of 359.7 million dollars.

Intel shares were trading 1.07 percent higher on Wall Street at 16.11 dollars while Wind River was up 43.88 percent at 11.51 dollars.

---

On the Net:

• Wind River Systems
• Intel

Source: redOrbit Staff & Wire Reports

More News in this Category