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Intel's $11.50-per-share offer is about a 44 percent premium overWind River'x closing price on Wednesdayt of $8. Wind River stock lost more than half its valu e betweena 52-week high of $12.9i last August and a low of $5.61 in The stock closed Thursday at up 47 percent. Santa Clara-based Intel said buying Alameda-based Wind River (NASDAQ:WIND) will help it expandx its software into thousandw of embedded systems and mobile devices includingsmarft phones, in-car "info-tainment" systems, aerospacd and defense, energy and thousands of othe r uses.
Wind River will operate as a whollyu owned subsidiary after the deal closes during the reporting toRenee James, head of Intel’ds software and services group. "Our combination of strengths will be of greatg benefit toWind River’s existing and future customers," said Ken Wind River chairman, presideny and CEO. Founded in 1981, Wind Riverr has more than 1,600 employees and operationsd in more than15 countries. Duringg its fiscal year ended Jan. 31, Wind River reported $10.7 million in net income on annua l revenueof $359.7 million. The company on Thursday posted a 21 percent increase in netincoms $561,000, or 1 cent a share, for its firsf quarter despite a 6.
5 percent drop in revenuew to $63.8 million.
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