Intel to buy Wind River Systems for $884 mn

SANTA CLARA, USA: The world's top chip maker Intel Corp said on Thursday that it agreed to buy Wind River Systems Inc, a software vendor in embedded devices, for about $884 million to gain a stronger foothold in the embedded systems and mobile handheld devices space.

The $11.50 per share cash offer for the software systems developer is almost a 44 per cent premium to Wind River's closing price of $8 on Wednesday.

With this, Wind River will become a wholly owned subsidiary of Intel and continue with its current business model of supplying leading-edge products and services to its customers worldwide, said a press release.

“This 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,” said Renee James, Intel vice president and general manager of the company’s Software and Services Group.

Wind River chairman, president and CEO Ken Klein said that the combination of strengths would be ill be of great benefit to Wind River’s existing and future customers

“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. We remain committed to continuing to provide leading solutions across multiple hardware architectures and delivering the same world-class support to which our customers have grown accustomed,” he said.

The transaction is expected to close this summer and on completion of the deal, Wind River will report into Intel's software and services group, the companies said in a statement.

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