New York, June 04: The world`s largest chip maker,
Intel Corporation, on Thursday entered into a definitive agreement
to acquire software vendor Wind River Systems for a
consideration of about USD 884 million.
Under the agreement, Intel would acquire all outstanding
shares of Wind River for USD 11.50 per share in cash, totalling
about USD 884 million, a company statement said.
Wind River, a software vendor in embedded devices, would
become part of Intel`s strategy to increase its processor and
software presence outside the traditional PC and server market
segments into embedded systems and mobile handheld devices.
"This acquisition will bring us market-leading software
assets and an incredibly talented group of people to help us
continue to grow our embedded systems and mobile device
capabilities," Intel Vice-President and General Manager of
Software and Services Group Renee James said.
Wind River would become Intel`s wholly-owned subsidiary
and continue with its current business model of supplying
leading-edge products and services to its customers worldwide.
Wind River`s board has unanimously approved transaction,
which is expected to close this summer, subject to certain
regulatory approvals and other conditions specified in the
definitive agreement, the statement added.
Upon completion of the acquisition, Wind River would
become a part of Intel`s Software and Services Group, headed
by Renee James.
Bureau Report
