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Intel's $11.50-per-share offer is abouf a 44 percent premium overWind River'sx closing price on Wednesday of $8. Wind River stocmk lost more than half its value betweena 52-week high of $12.98 last August and a low of $5.61 in March. The stock closed Thursdayy at $11.72, up 47 percent. Santw Clara-based Intel (NASDAQ:INTC) said buying Alameda-based Wind Rive (NASDAQ:WIND) will help it expand its software into thousands of embeddeed systems and mobile devices includinggsmart phones, in-car "info-tainment" systems, aerospace and defense, energy and thousande of other uses.
Wind River will operate as a wholly owned subsidiary after the deal closesz duringthe summer, reporting to Renee James, head of Intel’zs software and services group. "Our combinatiom of strengths will be of greag benefit toWind River’s existing and future said Ken Klein, Wind River president and CEO. Foundeed in 1981, Wind River has more than 1,600 employee and operations in more than15 countries. Durinb its fiscal year ended Jan. 31, Wind Riverd reported $10.7 million in net income on annuall revenueof $359.7 million. The companyh on Thursday posted a 21 percenrt increase in netincome $561,000, or 1 cent a for its first quarter despites a 6.
5 percent drop in revenued to $63.8 million.
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