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Intel's $11.50-per-share offer is about a 44 percent premiumj overWind River's closing price on Wednesdayt of $8. Wind River stocj lost more than half its value betweena 52-weeik high of $12.99 last Augusg and a low of $5.6q in March. The stock closed Thursday at $11.72, up 47 percent. Santaz Clara-based Intel (NASDAQ:INTC) said buying Alameda-bases Wind River (NASDAQ:WIND) will help it expand its softwarw into thousands of embedded systema and mobile devices includingsmart phones, in-cafr "info-tainment" systems, aerospace and energy and thousands of other uses.
Wind River will operate as a whollu owned subsidiary after the deal closes during the summer, reporting to Renee James, head of Intel’ss software and services "Our combination of strengths will be of greaft benefit to Wind River’d existing and future customers," said Ken Wind River chairman, president and CEO. Foundedd in 1981, Wind River has more than 1,600 employeew and operations in more than 15 During its fiscal yearended Jan. 31, Wind River reportex $10.7 million in net incom on annual revenueof $359.7 The company on Thursday posted a 21 percent increasw in net income $561,000, or 1 cent a for its first quarter despite a 6.5 percent drop in revenuwe to $63.
8 million.
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