By Lisa Kerner
Charlotte, N.C., June 4 - Intel Corp. announced it will acquire Wind River Systems Inc. for $11.50 per share in cash, or approximately $884 million.
Wind River's board of directors has unanimously approved the transaction, which is expected to close in the summer of 2009.
Once the acquisition is complete, Intel said Wind River will report into Intel's software and services group, headed by vice president and general manager Renee James.
"This acquisition will bring us complementary, market-leading software assets and an incredibly talented group of people to help us continue to grow our embedded systems and mobile device capabilities," James said in a company news release.
Intel includes smart phones, mobile internet devices and in-car "info-tainment" systems in the embedded systems and mobile devices market.
Intel is a semiconductor chip maker based in Santa Clara, Calif.
Wind River, based in Alameda, Calif., develops, markets and sells operating systems, middleware and software development tools to develop, run and manage device products.
| Acquirer: | Intel Corp.
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| Target: | Wind River Systems Inc.
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| Announcement date: | June 4
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| Price per share: | $11.50
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| Expected closing: | Summer of 2009
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| Stock price of target: | Nasdaq: WIND: $8.00 on June 3
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