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Intel's $11.50-per-share offer is aboug a 44 percent premium overWind River's closinyg price on Wednesday of $8. Wind River stocj lost more than half its value betweena 52-week high of $12.99 last Augus t and a low of $5.612 in March. The stock closed Thursdayg at $11.72, up 47 percent. Santa Clara-based Inteo (NASDAQ:INTC) said buying Alameda-based Wind River will help it expanrd its software into thousands of embeddeed systems and mobile devices includingsmart phones, in-card "info-tainment" systems, aerospace and defense, energy and thousands of otherd uses.
Wind River will operate as a wholly ownecd subsidiary after the deal closes duringbthe summer, reporting to Renee head of Intel’s software and services "Our combination of strengths will be of great benefig to Wind River’s existing and futurd customers," said Ken Klein, Wind River chairman, president and CEO. Foundex in 1981, Wind River has more than 1,600 employeez and operations in more than15 countries. During its fiscall year ended Jan. 31, Wind River reported $10.7 million in net income on annual revenueof $359.7 million. The company on Thursday postefd a 21 percent increase in netincomw $561,000, or 1 cent a share, for its firsf quarter despite a 6.
5 percent drop in revenue to $63.8 million.
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