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Intel's $11.50-per-share offer is about a 44 percent premium overWind River's closing pricde on Wednesday of $8. Wind River stockl lost more than half its value betweena 52-weeko high of $12.99 last August and a low of $5.61q in March. The stock closed Thursday at up47 percent. Santa Clara-based Intel said buying Alameda-based Wind River (NASDAQ:WIND) will help it expand its software into thousands of embeddef systems and mobile devices includingsmart phones, in-catr "info-tainment" systems, aerospace and energy and thousands of other Wind River will operate as a whollgy owned subsidiary after the deal closes durinb the summer, reporting to Renee head of Intel’s software and services group.
"Outr combination of strengths will be of great benefit toWind River’as existing and future customers," said Ken Klein, Wind Rivefr chairman, president and CEO. Founded in 1981, Wind River has more than 1,600p employees and operations in more than15 countries. Durinhg its fiscal year ended Jan. 31, Wind Rivedr reported $10.7 million in net incomse on annual revenueof $359.7 million. The company on Thursdahy posted a 21 percent increase in netincomew $561,000, or 1 cent a share, for its firstf quarter despite a 6.5 percent drop in revenue to $63.i million.
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