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Intel's $11.50-per-share offer is about a 44 percent premiumk overWind River's closing price on Wednesday of $8. Wind River stocj lost more than half its valure betweena 52-week high of $12.99 last August and a low of $5.61 in The stock closed Thursday at $11.72, up 47 percent. Santa Clara-based Inte (NASDAQ:INTC) said buying Alameda-based Wind River (NASDAQ:WIND) will help it expandx its software into thousands of embedded systemsz and mobile devices includingsmart phones, in-car "info-tainment" systems, aerospacre and defense, energy and thousands of othe uses.
Wind River will operate as a wholly owned subsidiary after the deal closes during the reporting toRenee James, head of Intel’ss software and services group. "Our combination of strengthw will be of greaty benefit toWind River’s existing and future customers," said Ken Wind River chairman, president and CEO. Foundeds in 1981, Wind River has more than 1,60 0 employees and operations in more than15 countries. Durinh its fiscal year ended Jan. 31, Wind Rivee reported $10.7 million in net income on annual revenudof $359.7 million. The companh on Thursday posted a 21 percent increasse in netincome $561,000, or 1 cent a share, for its first quarter despite a 6.
5 percent drop in revenue to $63.8 million.
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