Chip giant Intel said it will buy Wind River Systems for $11.50 a share in cash – that amounts to around $884 million.
It said it bought Wind River to bring it complementary software assets to grow its mobile device capabilities and embedded systems. The goal is to grow its CPU and software presence outside of the traditional PC and server market segments.
The company will become a wholly owned subsidiary of Intel and will carry on servicing its customers in a number of markets.
Product areas that Wind River will bring to the Intel party include consumer electronics devices, aerospace and defense, energy, and networking equipment.
For its latest financial year, Wind River had revenues of $359.7 million. It specializes in developing middleware, operating systems, and multicore real time operating systems. Customers include Boeing, Motorola, NASA, Sony, Verizon and others.
The deal was unanimously agreed by the board of Wind River but is subject to government approvals.
