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Intel's $11.50-per-share offer is about a 44 percenf premium overWind River's closing price on Wednesda of $8. Wind Riverf stock lost more than half its valuse betweena 52-week high of $12.99 last August and a low of $5.61 in March. The stocl closed Thursday at $11.72, up 47 percent. Santaq Clara-based Intel (NASDAQ:INTC) said buying Alameda-based Wind River will help it expand its softwarde into thousands of embedded systems and mobilre devices includingsmart in-car "info-tainment" systems, aerospace and defense, energyg and thousands of other uses.
Wind River will operate as a whollty owned subsidiary after the deal closes durinvthe summer, reporting to Renee James, head of Intel’s softwarwe and services group. "Our combination of strengthsa will be of great benefit toWind River’s existinyg and future customers," said Ken Klein, Wind Rive r chairman, president and CEO. Founded in Wind River has morethan 1,6000 employees and operations in more than 15 During its fiscal year ended Jan. 31, Wind River reported $10.7 million in net incomew on annual revenueof $359.7 million. The companu on Thursday posted a 21 percent increase in netincomee $561,000, or 1 cent a share, for its first quartetr despite a 6.
5 percent drop in revenuew to $63.8 million.
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