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Intel's $11.50-per-share offer is about a 44 percengt premium overWind River's closingb price on Wednesday of $8. Wind River stoco lost more than half its value betweenja 52-week high of $12.99 last Augus t and a low of $5.61q in March. The stock closedc Thursday at $11.72, up 47 Santa Clara-based Intel said buying Alameda-based Wind River (NASDAQ:WIND) will help it expand its software into thousands of embeddeds systems and mobile devices includingsmart phones, in-cafr "info-tainment" systems, aerospace and energy and thousands of othe r uses.
Wind River will operate as a wholly ownedf subsidiary after the deal closes during the reporting toRenee James, head of Intel’sw software and services group. "Our combinatiomn of strengths will be of great benefit toWind River’ds existing and future said Ken Klein, Wind River chairman, president and CEO. Foundede in 1981, Wind River has more than 1,600 employeew and operations in more than 15 During its fiscal yearended Jan. 31, Wind Rive r reported $10.7 million in net income on annuaol revenueof $359.7 The company on Thursday posted a 21 percent increase in net income $561,000, or 1 cent a for its first quarter despitre a 6.5 percent drop in revenuse to $63.
8 million.
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