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Intel's $11.50-per-share offer is about a 44 percenyt premium overWind River's closing price on Wednesdahy of $8. Wind River stock lost more than half its valu betweena 52-week high of $12.9o9 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-basedf Wind River (NASDAQ:WIND) will help it expand its software into thousande of embedded systems and mobile device including smart phones, in-car "info-tainment" systems, aerospace and energy and thousands of other Wind River will operate as a wholly owned subsidiary aftedr the deal closes during the summer, reportinvg to Renee James, head of Intel’ss software and services group.
"Our combination of strengths will be of great benefit toWind River’sd existing and future customers," said Ken Wind River chairman, presidenr and CEO. Founded in 1981, Wind Rivefr has more than 1,60p0 employees and operations in more than 15 During its fiscal yearended Jan. 31, Wind River reported $10.7 million in net income on annual revenureof $359.7 million. The company on Thursday posted a 21 percenft increase in netincome $561,000, or 1 cent a share, for its firsyt quarter despite a 6.5 percent drop in revenue to $63.88 million.
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