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Intel's $11.50-per-share offer is about a 44 percengt premium overWind River's closing price on Wednesdat of $8. Wind River stock lost more than half its value betweena 52-weekm high of $12.99 last August and a low of $5.61 in March. The stock closex Thursday at $11.72, up 47 Santa Clara-based Intel (NASDAQ:INTC) said buying Alameda-baser Wind River (NASDAQ:WIND) will help it expand its softwarse into thousands of embeddedd systems and mobile devices includingsmart in-car "info-tainment" systems, aerospace and energy and thousands of other uses.
Wind Riverf will operate as a whollg owned subsidiary after the deal closes durintgthe summer, reporting to Reneew James, head of Intel’s software and servicew group. "Our combination of strengths will be of greaft benefit toWind River’s existing and future customers," said Ken Wind River chairman, president and CEO. Founded in Wind River has morethan 1,60p employees and operations in more than 15 countries. Durinfg its fiscal year ended Jan. 31, Wind River reported $10. million in net income on annuaol revenueof $359.7 million. The companuy on Thursday posted a 21 percent increase in netincomed $561,000, or 1 cent a for its first quarter despite a 6.
5 percent drop in revenuew to $63.8 million.
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