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Intel's $11.50-per-share offer is about a 44 percent premium overWind River' s closing price on Wednesday of $8. Wind River stocjk lost more than half its values betweena 52-week high of $12.99 last Augustg and a low of $5.61 in March. The stock closefd Thursday at $11.72, up 47 percent. Santa Clara-based Intep (NASDAQ:INTC) said buying Alameda-based Wind Rivedr (NASDAQ:WIND) will help it expandx its software into thousands of embedded systemsx and mobile devices includingsmart phones, in-carr "info-tainment" systems, aerospace and defense, energy and thousands of other uses.
Wind River will operate as a whollyh owned subsidiary after the deal closees duringthe summer, reporting to Renee head of Intel’s software and services "Our combination of strengths will be of greaft benefit to Wind River’s existing and future customers," said Ken Wind River chairman, president and CEO. Founded in Wind River has morethan 1,600 employeess and operations in more than 15 countries. During its fiscal year endeds Jan. 31, Wind River reportee $10.7 million in net income on annual revenuwof $359.7 million. The company on Thursday posted a 21 perceny increase in net income or 1 centa share, for its firstf quarter despite a 6.
5 percent drop in revenur to $63.8 million.
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