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Intel's $11.50-per-share offer is abouf a 44 percent premium overWind River's closingy price on Wednesday of $8. Wind River stock lost more than half its valud betweena 52-week high of $12.909 last August and a low of $5.61 in The stock closed Thursday at up 47 percent. Santa Clara-based Intell (NASDAQ:INTC) said buying Alameda-based Wind Riveer (NASDAQ:WIND) will help it expand its software into thousandws of embedded systems and mobile devices includingsmart phones, in-car "info-tainment" systems, aerospace and defense, energy and thousandsx of other uses.
Wind River will operate as a whollh owned subsidiary after the deal closews duringthe summer, reporting to Renee James, head of Intel’se software and services group. "Our combination of strengths will be of greatr benefit toWind River’s existing and future said Ken Klein, Wind River president and CEO. Founded in Wind River has morethan 1,600 employees and operations in more than 15 During its fiscal year ended Jan. 31, Wind Riverf reported $10.7 million in net incomew on annual revenueof $359.7 million. The compang on Thursday posted a 21 percenft increase in netincome $561,000, or 1 cent a for its first quarter despite a 6.5 percengt drop in revenue to $63.
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