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Intel Strengthens Software Capabilities|
- By CXOtoday Staff, Jun 05, 2009 0956 hrs IST
- Tags : Intel, Wind River, embedded devices, mobile handheld devices, Ken Klein, Renee James
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Intel Corporation has entered into a definitive agreement to acquire Wind River Systems Inc, under which Intel will acquire all outstanding Wind River common stock for $11.50 per share in cash, or approximately $884 million in the aggregate.
Wind River is a 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, an Intel press release said.
While the company refused to divulge financial details, it said that the acquisition will bring complementary, market-leading software assets and an incredibly talented group of people to help it continue to grow 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, vice president and general manager of the company's Software and Services Group.
Our combination of strengths will be of great benefit to Wind River's existing and future customers," said Ken Klein, chairman, president and CEO of Wind River. 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.
The board of directors of Wind River has unanimously approved the transaction. It is expected to close this summer, subject to certain regulatory approvals and other conditions specified in the definitive agreement. Upon completion of the acquisition, Wind River will report into Intel's Software and Services Group, headed by Renee James, the press release said.
As an Intel subsidiary, Wind River will continue to develop innovative, commercial-grade software platforms that support multiple hardware architectures that are optimized for the needs of its many embedded and mobile customers. The acquisition will boost Wind River's Intel-architecture focused sales as it gains access to the company's technology investments, brand, employees and global sales force.
With thousands of customers, Wind River technology is relied upon by most major computer and networking communications companies, and used by corporations and government agencies such as Alcatel-Lucent, BMW, Boeing, Bombardier Transportation, Mitsubishi, Motorola, NASA, Sony, Verizon among others.
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