Intel today announced it has entered into a definitive agreement to acquire all outstanding Wind River Systems common shares for $11.50 in cash, valuing the deal at around $884 million. The near billion dollar investment represents a 44 percent markup over Wind River's Wednesday closing price of $8, says the Associated Press.
"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 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."
The acquisition is expected to strengthen Intel's processor and software offerings for embedded systems and mobile devices such as smartphones, MIDs, and even in-car "info-tainment" systems, Intel says. On that latter point, Wind River Systems announced just over a year ago it was collaborating with Intel to develop an open-source platform for the automotive industry, one which would be optimized for Intel's now-popular Atom processor.
Image Credit: Intel