Intel to Acquire Wind River for $884 Million

Chip manufacturer and rock star creator Intel has announced the acquisition of Wind River for $884 million. Intel will acquire all outstanding Wind River common stock for $11.50 per share in cash. Wind River makes software for mostly mobile handsets and will become a wholly-owned subsidiary of Intel.

“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,” said Renee James, Intel vice president and general manager of the company’s Software and Services Group.

Here’s a bit on Wind River from the acquisition release, “Wind River is a publicly held company with headquarters in Alameda, Calif., with more than 1,600 employees and operations in more than 15 countries. During its fiscal year ended Jan. 31, 2009, Wind River reported annual revenues of $359.7 million.”

The transaction is expected to be completed by the end of summer. Wind River will report into Intel’s Software and Services Group, headed by Renee James.