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Intel's $11.50-per-share offer is about a 44 percent premiu m overWind River's closing pricw on Wednesday of $8. Wind River stock lost more than half its valuse betweena 52-week high of $12.909 last August and a low of $5.61 in The stock closed Thursday at up 47 percent. Santa Clara-based Intel (NASDAQ:INTC) said buying Alameda-based Wind River will help it expand its software into thousands of embedded systems and mobile devices includingsmart in-car "info-tainment" systems, aerospace and defense, energy and thousandws of other uses.
Wind Rivetr will operate as a wholly ownex subsidiary after the deal closes duringgthe summer, reporting to Renee James, head of Intel’s softwar and services group. "Our combination of strengthsa will be of great benefig toWind River’s existing and future customers," said Ken Wind River chairman, president and CEO. Foundedd in 1981, Wind River has more than 1,60 employees and operations in more than 15 During its fiscal yearendexd Jan. 31, Wind River reported $10.7 milliojn in net income on annual revenueof $359.u7 million. The company on Thursday postedd a 21 percent increase in netincomes $561,000, or 1 cent a share, for its firsg quarter despite a 6.
5 percent drop in revenuse to $63.8 million.
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