Intel to take over Wind River

Intel Corp. said that they had entered in an agreement to take over Wind River, the one of the famous software development companyies for the embedded platforms. The  Silicon market giant hopes that this will help them to find new customers to the embedded domain.

“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. 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,” said Renee James, Intel vice president and general manager of the company's software and services group.

Wind River is a leading software vendor in embedded devices, and will become part of Intel's strategy to grow its processor and software presence outside the traditional PC and server market segments into embedded systems and mobile handheld devices. 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. Founded in 1981, Wind River is a publicly held company with headquarters in Alameda, California, with more than 1600 employees and operations in more than 15 countries. During its fiscal year ended Jan. 31, 2009, Wind River reported annual revenues of $359.7 million.

Under the agreement, Intel will acquire all outstanding Wind River common stock for $11.50 per share in cash, or approximately $884 million in the aggregate.