* 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)