Intel Corporation has made a definitive agreement to buy out software firm Wind River Systems Inc. Intel will buy out all of Wind River’s common stock at a price of $11.50 per share in cash which comes out to be a total of $884 million.
Wind River is one of the top software companies for embedded devices built in to automotive and aviation transportation. Wind River builds software for mobile devices.
“This acquisition will bring us complementary, market-leading software assets and an incredibly talented group of people to help us continue to grow our embedded systems and mobile device capabilities,” stated Intel VP Renee James. “Wind River has thousands of customers in a wide range of markets, and now both companies will be better positioned to meet growth opportunities in these areas.”
[via Intel PR]