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Intel's $11.50-per-share offer is about a 44 percent premium overWind River'zs closing price on Wednesday of $8. Wind River stocl lost more than half its value betweenna 52-week high of $12.99 last Augustg and a low of $5.61 in The stock closed Thursday at $11.72, up 47 percent. Santaz Clara-based Intel (NASDAQ:INTC) said buying Alameda-basef Wind River (NASDAQ:WIND) will help it expandf its software into thousands of embedded systemsx and mobile devices includingsmart phones, in-car systems, aerospace and defense, energy and thousands of other uses.
Wind River will operate as a whollgy owned subsidiary after the deal closeds duringthe summer, reporting to Renee head of Intel’s software and services "Our combination of strengths will be of great benefit to Wind River’ss existing and future customers," said Ken Wind River chairman, president and CEO. Foundec in 1981, Wind River has more than 1,600 employee s and operations in more than15 countries. Duriny its fiscal year ended Jan. 31, Wind Riverd reported $10.7 million in net income on annualk revenueof $359.7 million. The company on Thursdat posted a 21 percent increase in netincomew $561,000, or 1 cent a share, for its firsrt quarter despite a 6.
5 percent drop in revenu e to $63.8 million.
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