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| Intel to buy Wind River Systems for $884 mn |
| Press Trust of India / New York Jun 04, 2009, 20:09 IST |
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The world's largest chip maker, Intel Corporation, today entered into a definitive agreement to acquire software vendor Wind River Systems for a consideration of about $884 million.
Under the agreement, Intel would acquire all outstanding shares of Wind River for $11.50 per share in cash, totaling about $884 million, a company statement said.
Wind River, a software vendor in embedded devices, would become part of Intel's strategy to increase its processor and software presence outside the traditional PC and server market segments into embedded systems and mobile handheld devices.
"This acquisition will bring us market-leading software assets and an incredibly talented group of people to help us continue to grow our embedded systems and mobile device capabilities," Intel Vice-President and General Manager of Software and Services Group Renee James said.
Wind River would become Intel's wholly-owned subsidiary and continue with its current business model of supplying leading-edge products and services to its customers worldwide.
Wind River's board has unanimously approved transaction, which is expected to close this summer, subject to certain regulatory approvals and other conditions specified in the definitive agreement, the statement added.
Upon completion of the acquisition, Wind River would become a part of Intel's Software and Services Group, headed by Renee James.
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