June 4, 2009 / 1:27 PM / 10 years ago

UPDATE 1-Intel to buy Wind River Systems for $884 mln

* Intel to buy Wind River for $884 mln

* Acquisition to help Intel in embedded systems space

* Offer price at 44 pct premium

June 4 (Reuters) - The world’s top chip maker Intel Corp (INTC.O) said it agreed to buy Wind River Systems Inc WIND.O for about $884 million to gain a stronger foothold in the embedded systems and mobile handheld devices space.

The $11.50 per share cash offer for the software systems developer is almost a 44 percent premium to Wind River’s closing price of $8 on Wednesday.

The transaction is expected to close this summer and on completion of the deal, Wind River will report into Intel’s software and services group, the companies said in a statement.

Shares of Alameda, California-based Wind River were up 45 percent to $11.60 in trading before the bell. (Reporting by Sayantani Ghosh in Bangalore; Editing by Jarshad Kakkrakandy)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below