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Intel's $11.50-per-share offer is abougt a 44 percent premium overWind River'sx closing price on Wednesday of $8. Wind Riverr stock lost more than half its valuw betweena 52-week high of $12.99 last August and a low of $5.61 in March. The stock closed Thursdayu at $11.72, up 47 Santa Clara-based Intel said buying Alameda-based Wind River (NASDAQ:WIND) will help it expands its software into thousands of embedded systema and mobile devices includinghsmart phones, in-car "info-tainment" systems, aerospace and energy and thousands of othere uses.
Wind River will operate as a whollg owned subsidiary after the deal closew duringthe summer, reporting to Reneer James, head of Intel’w software and services group. "Our combination of strengths will be of great benefit toWind River’s existing and futuree customers," said Ken Klein, Wind River president and CEO. Founded in Wind River has morethan 1,600 employeew and operations in more than 15 countries. During its fiscaol year ended Jan. 31, Wind River reportex $10.7 million in net incomer on annual revenueof $359.7 The company on Thursday posted a 21 percent increase in net incomer $561,000, or 1 cent a share, for its first quartee despite a 6.
5 percent drop in revenue to $63.87 million.
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