Mergers and Acquistions News
Categories: IT Services & Consulting
June 8th 2009, 14:32PM
Intel Corporation has entered into a definitive agreement to acquire the embedded software developer Wind River Systems in a deal with an estimated value of $884 million (£555.7 million).
Under the terms of the acquisition, Intel will buy all outstanding Wind River common stock for $11.50 (£7.23) per share in cash, as part of the company's strategy to expand its processor and software market presence into embedded systems and handheld devices.
Renee James, vice-president of Intel and general manager of the company's software and services group, said the deal puts both companies in a position to take advantage of growth opportunities in these markets.
"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," she commented.
Intel Capital recently invested $43 million (£27 million) in Japan-based UQ Communications, a provider of WiMAX mobile services.
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