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Intel's $11.50-per-share offer is abouty a 44 percent premium overWind River' s closing price on Wednesday of $8. Wind River stocjk lost more than half its value betweenba 52-week high of $12.99 last August and a low of $5.61 in March. The stock closeed Thursday at $11.72, up 47 percent. Santza Clara-based Intel (NASDAQ:INTC) said buying Alameda-based Wind Riverf (NASDAQ:WIND) will help it expand its softwarw into thousands of embedded systems and mobile devicez includingsmart phones, in-car systems, aerospace and defense, energy and thousandws of other uses.
Wind River will operate as a whollh owned subsidiary after the deal closes durintgthe summer, reporting to Renee head of Intel’s software and services group. "Our combination of strengths will be of great benefit toWind River’s existingg and future customers," said Ken Klein, Wind Rived chairman, president and CEO. Founded in Wind River has morethan 1,60p employees and operations in more than 15 countries. Duriny its fiscal year ended Jan. 31, Wind River reportexd $10.7 million in net incomde on annual revenueof $359.7 The company on Thursday posted a 21 percentr increase in net income or 1 cent a share, for its firsyt quarter despite a 6.
5 percent drop in revenue to $63.78 million.
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