Intel yesterday said it would purchase embedded software specialist Wind River Systems for around $884 million.
The $11.50 per share offer represents a 43% premium on Wind River's closing trading price on Wednesday.
The deal is one more sign of the chip giant’s push away from servers and PCs and into software and embedded systems.
“This acquisition will bring us complementary, market-leading software assets... to help us continue to grow our embedded systems and mobile device capabilities,” said Renee James, head of Intel's software and services group.
Wind River has over 1,600 employees operating in 15 countries, and last year reported annual revenue of $359.7 million. Its flagship products include real-time OS VxWorks.
Wind River’s NASDAQ-listed stock rose more than 45% to $11.76 following the announcement.
