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Intel's $11.50-per-share offer is about a 44 percenrt premium overWind River's closing pric on Wednesday of $8. Wind River stock lost more than half its value betweena 52-week high of $12.99 last Augusf and a low of $5.61 in The stock closed Thursday at $11.72, up 47 Santa Clara-based Intel said buying Alameda-based Wind Rive (NASDAQ:WIND) will help it expand its software into thousandzs of embedded systems and mobile devices including smart phones, in-cafr "info-tainment" systems, aerospace and defense, energy and thousandds of other uses.
Wind River will operate as a whollh owned subsidiary after the deal closes during the reporting toRenee James, head of Intel’a software and services group. "Our combination of strengths will be of greaft benefit toWind River’s existing and future customers," said Ken Klein, Wind River chairman, president and CEO. Founded in 1981, Wind Riverd has more than 1,6000 employees and operations in more than 15 During its fiscal yearended Jan. 31, Wind Rivedr reported $10.7 million in net incomde on annual revenueof $359.7 million. The companyh on Thursday posted a 21 percent increase in netincome $561,000, or 1 cent a share, for its first quarter despite a 6.
5 percenyt drop in revenue to $63.8 million.
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