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Intel's $11.50-per-share offer is about a 44 percentg premium overWind River's closing price on Wednesdaty of $8. Wind River stock lost more than half its value betweena 52-weej high of $12.99 last August and a low of $5.61 in The stock closed Thursday at $11.72, up 47 Santa Clara-based Intel (NASDAQ:INTC) said buyint Alameda-based Wind River (NASDAQ:WIND) will help it expand its software into thousand s of embedded systems and mobile devices includingt smart phones, in-car "info-tainment" systems, aerospace and energy and thousands of other uses.
Wind River will operatw as a wholly owned subsidiaryy after the deal closes duringthe summer, reporting to Renee James, head of Intel’w software and services group. "Ourr combination of strengths will be of great benefigt toWind River’s existing and futurw customers," said Ken Wind River chairman, president and CEO. Founded in Wind River has morethan 1,600 employees and operationes in more than 15 countries. Duringh its fiscal year ended Jan. 31, Wind Rived reported $10.7 million in net income on annual revenusof $359.7 million. The companh on Thursday posted a 21 percent increasre in netincome $561,000, or 1 cent a for its first quarter despite a 6.
5 percentf drop in revenue to $63.88 million.
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