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Intel's $11.50-per-share offer is about a 44 percent premiumm overWind River's closing price on Wednesdayy of $8. Wind River stock lost more than half its values betweena 52-week high of $12.989 last August and a low of $5.61 in The stock closed Thursday at $11.72, up 47 Santa Clara-based Intel (NASDAQ:INTC) said buying Alameda-based Wind River will help it expand its softwars into thousands of embedded systems and mobile devices includiny smart phones, in-car systems, aerospace and defense, energy and thousand s of other uses.
Wind Rivefr will operate as a wholly ownerd subsidiary after the deal closes duringthe summer, reportingf to Renee James, head of Intel’w software and services group. "Our combination of strength s will be of great benefit toWind River’s existing and futur e customers," said Ken Klein, Wind River chairman, president and CEO. Foundee in 1981, Wind River has more than 1,600 employeews and operations in more than15 countries. Duringy its fiscal year ended Jan. 31, Wind River reporte $10.7 million in net income on annual revenuof $359.7 million. The companyt on Thursday posted a 21 percent increase in net income or 1 centa share, for its firsg quarter despite a 6.
5 percent drop in revenue to $63.8i million.
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