Intel announced Wind River acquisition
Intel announced that it intends to buy the Wind River Company for $884 million in cash.
Wind River is known for its software solutions for a variety of specialized systems and devices and it will become a subsidiary owned by Intel, which will operate within the group of Intel Software and Services.
With this deal, Intel is trying to expand business beyond their traditional markets associated with personal computers and servers, in different application systems and portable devices, including devices for consumer electronics, travel in cars, computers and network.
Wind River with its 1600 employees last year hit $359.7 million of revenue. All work around the acquiring should be complete during the summer, depending on authorizations of antitrust agencies and other conditions.
Tags | Announcements, Business
It must be nice to have that kind of cash lying around with this down economy. I wish there were more mergers going on…there might be if the financial crisis continues like this.