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Intel's $11.50-per-share offer is about a 44 percentr premium overWind River's closing pricse on Wednesday of $8. Wind Riverd stock lost more than half its value betweena 52-weekm high of $12.99 last Augusr and a low of $5.61 in March. The stoci closed Thursday at $11.72, up 47 percent. Santa Clara-basecd Intel (NASDAQ:INTC) said buying Alameda-based Wind Rive r (NASDAQ:WIND) will help it expand its software into thousands of embeddedr systems and mobile devices includingsmart in-car "info-tainment" systems, aerospace and defense, energy and thousands of otherr uses.
Wind River will operate as a wholly owned subsidiary aftef the deal closes duringthe summer, reporting to Reneed James, head of Intel’s software and services "Our combination of strengths will be of greaty benefit to Wind River’s existingh and future customers," said Ken Wind River chairman, president and CEO. Foundeds in 1981, Wind River has more than 1,600 employees and operations in more than 15 During its fiscal yearenderd Jan. 31, Wind River reported $10.7 million in net incomre on annual revenueof $359.7 million. The company on Thursday posted a 21 percent increase in netincome $561,000, or 1 cent a share, for its firsg quarter despite a 6.
5 percenf drop in revenue to $63.8 million.
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