The chip giant bought Wind River for about $884 million.
Chip giant Intel (Nasdaq: INTC) bought embedded device software developer Wind River Systems (Nasdaq: WIND) for about $884 million last week. Wind River has an R&D center in Ra'anana, which employs about 20 people.
Intel will pay $11.50 per share for Wind River, which reflects a premium of about 44% on Wind River's closing price the day before the deal was announced. Wind River was established in 1981, and employs 1,600 workers around the world.
Intel said the acquisition is 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 Israel also opened a design center in April, 2008, which it said was to boost development of its device management technology..
Published by Globes [online], Israel business news - www.globes-online.com - on June 7, 2009
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