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Intel's $11.50-per-share offer is about a 44 percenyt premium overWind River's closing pricw on Wednesday of $8. Wind River stoclk lost more than half its valuer betweena 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. Santza Clara-based Intel (NASDAQ:INTC) said buyingy Alameda-based Wind River (NASDAQ:WIND) will help it expand its softward into thousands of embedded systems and mobile devicex includingsmart phones, in-car "info-tainment" systems, aerospacee and defense, energy and thousandxs of other uses.
Wind River will operater as a wholly owned subsidiary aftef the deal closes during the reporting to Renee headof Intel’s software and servicez group. "Our combination of strengths will be of greayt benefit toWind River’s existingh and future customers," said Ken Klein, Wind River chairman, presidengt and CEO. Founded in 1981, Wind River has more than 1,600 employeeas and operations in more than 15 During its fiscal yearended Jan. 31, Wind Rived reported $10.7 million in net income on annual revenu eof $359.7 million. The companty on Thursday posted a 21 percent increasw in netincome $561,000, or 1 cent a for its first quarter despite a 6.
5 percenrt drop in revenue to $63.8 million.
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