SANTA CLARA, USA: Intel Corp. announced the successful completion of its acquisition of Wind River Systems Inc.
Wind River is a leading software vendor in embedded devices, and is part of Intel’s strategy to grow its processor and software presence outside the traditional PC and server market segments into embedded systems and mobile handheld devices.
Embedded systems and mobile devices include smartphones, mobile Internet devices (MIDs), other consumer electronics (CE) devices, in-car “info-tainment” systems and other automotive areas, networking equipment, aerospace and defense, energy and thousands of other devices.
“The acquisition will deliver to Intel robust software capabilities in embedded systems and mobile devices, both important growth areas for the company,” said Renee James, Intel vice president and general manager of the company’s Software and Services Group.
“This multi-billion-dollar market segment is increasingly becoming connected and more intelligent, requiring supporting applications and services as well as full Internet functionality.”
As a wholly owned Intel subsidiary, Wind River will continue to develop innovative, commercial-grade software platforms that support multiple hardware architectures that are optimized for the needs of its many embedded and mobile customers.
The acquisition will boost Wind River’s Intel-architecture focused sales as it gains access to Intel’s technology investments, brand, employees and global sales force.
Wind River will continue with its current business model of supplying leading-edge products and services to its customers worldwide. Wind River is now a wholly owned subsidiary of Intel, reporting to the Software and Services Group.
Showing posts with label Wind River Systems. Show all posts
Showing posts with label Wind River Systems. Show all posts
Friday, 17 July 2009
Friday, 10 July 2009
Intel accepts shares in tender offer for Wind River Systems
SANTA CLARA, USA: Intel Corp. announced that the initial offer period for its tender offer through its subsidiary, APC II Acquisition Corp. (APC II), for all outstanding shares of common stock, including rights to purchase shares of Series A Junior Participating Preferred Stock, of Wind River Systems Inc. for $11.50 per share expired at 12 a.m. EDT on July 9, 2009.
The depositary for the tender offer has advised Intel that, as of the expiration of the initial offering period, a total of approximately 69.0 million shares of Wind River common stock were validly tendered and not withdrawn (including approximately 6.4 million shares subject to guaranteed delivery procedures), representing approximately 89 percent of the outstanding shares of Wind River common stock. All shares that were validly tendered and not properly withdrawn during the initial offering period have been accepted for payment.
Intel also announced that it will commence through APC II a subsequent offering period to acquire all remaining shares of Wind River common stock, which will begin on July 10, 2009 and expire at 12 a.m. EDT on July 15, 2009, unless extended.
Any shares validly tendered during the subsequent offering period will be immediately accepted for payment, and tendering shareholders will promptly thereafter be paid of $11.50 per share, less any required withholding taxes, in cash and without interest, which is the same amount per share that was offered and paid in the initial offering period.
The subsequent offering period enables holders of shares of Wind River common stock who did not tender during the initial offering period to participate in the offer and receive the offer price on an expedited basis rather than waiting until the completion of the merger.
Shares tendered during the subsequent offering period cannot be delivered by the guaranteed delivery procedure and may not be withdrawn. In addition, shares validly tendered during the initial offering period may not be withdrawn during the subsequent offering period.
Following the expiration of the subsequent offering period, Intel intends to complete the acquisition of Wind River through what is known as a “short-form merger,” that is, without a vote or meeting of Wind River Systems Inc.’s remaining stockholders.
Following the merger, Wind River will become a wholly owned subsidiary of Intel, and each share of Wind River’s outstanding common stock will be cancelled and converted into the right to receive the same consideration, without interest, received by holders who tendered in the tender offer. Thereafter, Wind River common stock will cease to be traded on the NASDAQ Global Select Market.
The depositary for the tender offer has advised Intel that, as of the expiration of the initial offering period, a total of approximately 69.0 million shares of Wind River common stock were validly tendered and not withdrawn (including approximately 6.4 million shares subject to guaranteed delivery procedures), representing approximately 89 percent of the outstanding shares of Wind River common stock. All shares that were validly tendered and not properly withdrawn during the initial offering period have been accepted for payment.
Intel also announced that it will commence through APC II a subsequent offering period to acquire all remaining shares of Wind River common stock, which will begin on July 10, 2009 and expire at 12 a.m. EDT on July 15, 2009, unless extended.
Any shares validly tendered during the subsequent offering period will be immediately accepted for payment, and tendering shareholders will promptly thereafter be paid of $11.50 per share, less any required withholding taxes, in cash and without interest, which is the same amount per share that was offered and paid in the initial offering period.
The subsequent offering period enables holders of shares of Wind River common stock who did not tender during the initial offering period to participate in the offer and receive the offer price on an expedited basis rather than waiting until the completion of the merger.
Shares tendered during the subsequent offering period cannot be delivered by the guaranteed delivery procedure and may not be withdrawn. In addition, shares validly tendered during the initial offering period may not be withdrawn during the subsequent offering period.
Following the expiration of the subsequent offering period, Intel intends to complete the acquisition of Wind River through what is known as a “short-form merger,” that is, without a vote or meeting of Wind River Systems Inc.’s remaining stockholders.
Following the merger, Wind River will become a wholly owned subsidiary of Intel, and each share of Wind River’s outstanding common stock will be cancelled and converted into the right to receive the same consideration, without interest, received by holders who tendered in the tender offer. Thereafter, Wind River common stock will cease to be traded on the NASDAQ Global Select Market.
Thursday, 4 June 2009
Intel to acquire Wind River Systems for $884 million
SANTA CLARA, USA: Intel Corp. has entered into a definitive agreement to acquire Wind River Systems Inc, under which Intel will acquire all outstanding Wind River common stock for $11.50 per share in cash, or approximately $884 million in the aggregate.
Wind River is a leading software vendor in embedded devices, and will become part of Intel's strategy to grow its processor and software presence outside the traditional PC and server market segments into embedded systems and mobile handheld devices. Wind River will become a wholly owned subsidiary of Intel and continue with its current business model of supplying leading-edge products and services to its customers worldwide.
"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. "Wind River has thousands of customers in a wide range of markets, and now both companies will be better positioned to meet growth opportunities in these areas."
"Our combination of strengths will be of great benefit to Wind River's existing and future customers," said Ken Klein, Wind River Chairman, president and CEO. "As a wholly owned subsidiary, Wind River will more tightly align its software expertise to Intel's platforms to speed the pace of progress and software innovation. We remain committed to continuing to provide leading solutions across multiple hardware architectures and delivering the same world-class support to which our customers have grown accustomed."
The acquisition will deliver to Intel robust software capabilities in embedded systems and mobile devices, both important growth areas for the company. Embedded systems and mobile devices include smart phones, mobile Internet devices, other consumer electronics (CE) devices, in-car "info-tainment" systems and other automotive areas, networking equipment, aerospace and defense, energy and thousands of other devices.
This multi-billion dollar market opportunity is increasingly becoming connected and more intelligent, requiring supporting applications and services as well as full Internet functionality.
The board of directors of Wind River has unanimously approved the transaction. It is expected to close this summer, subject to certain regulatory approvals and other conditions specified in the definitive agreement. Upon completion of the acquisition, Wind River will report into Intel's Software and Services Group, headed by Renee James.
Wind River: Leader in embedded software
As an Intel subsidiary, Wind River will continue to develop innovative, commercial-grade software platforms that support multiple hardware architectures that are optimized for the needs of its many embedded and mobile customers.
The acquisition will boost Wind River's Intel-architecture focused sales as it gains access to the company's technology investments, brand, employees and global sales force.
Founded in 1981, 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.
Wind River develops operating systems, middleware (software found between an OS and software application), and software design tools for a variety of embedded computing systems. Its main products include VxWorks, the market-leading proprietary and multicore-ready real-time operating system, and commercial-grade Linux software platforms. The company also provides design services and software expertise, including custom-built solutions, development tools and device testing products.
With thousands of customers, Wind River technology is relied upon by most major computer and networking communications companies, and used by corporations and government agencies such as Alcatel-Lucent, BMW, Boeing, Bombardier Transportation, Mitsubishi, Motorola, NASA, Sony, Verizon and many more.
Wind River is a leading software vendor in embedded devices, and will become part of Intel's strategy to grow its processor and software presence outside the traditional PC and server market segments into embedded systems and mobile handheld devices. Wind River will become a wholly owned subsidiary of Intel and continue with its current business model of supplying leading-edge products and services to its customers worldwide.
"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. "Wind River has thousands of customers in a wide range of markets, and now both companies will be better positioned to meet growth opportunities in these areas."
"Our combination of strengths will be of great benefit to Wind River's existing and future customers," said Ken Klein, Wind River Chairman, president and CEO. "As a wholly owned subsidiary, Wind River will more tightly align its software expertise to Intel's platforms to speed the pace of progress and software innovation. We remain committed to continuing to provide leading solutions across multiple hardware architectures and delivering the same world-class support to which our customers have grown accustomed."
The acquisition will deliver to Intel robust software capabilities in embedded systems and mobile devices, both important growth areas for the company. Embedded systems and mobile devices include smart phones, mobile Internet devices, other consumer electronics (CE) devices, in-car "info-tainment" systems and other automotive areas, networking equipment, aerospace and defense, energy and thousands of other devices.
This multi-billion dollar market opportunity is increasingly becoming connected and more intelligent, requiring supporting applications and services as well as full Internet functionality.
The board of directors of Wind River has unanimously approved the transaction. It is expected to close this summer, subject to certain regulatory approvals and other conditions specified in the definitive agreement. Upon completion of the acquisition, Wind River will report into Intel's Software and Services Group, headed by Renee James.
Wind River: Leader in embedded software
As an Intel subsidiary, Wind River will continue to develop innovative, commercial-grade software platforms that support multiple hardware architectures that are optimized for the needs of its many embedded and mobile customers.
The acquisition will boost Wind River's Intel-architecture focused sales as it gains access to the company's technology investments, brand, employees and global sales force.
Founded in 1981, 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.
Wind River develops operating systems, middleware (software found between an OS and software application), and software design tools for a variety of embedded computing systems. Its main products include VxWorks, the market-leading proprietary and multicore-ready real-time operating system, and commercial-grade Linux software platforms. The company also provides design services and software expertise, including custom-built solutions, development tools and device testing products.
With thousands of customers, Wind River technology is relied upon by most major computer and networking communications companies, and used by corporations and government agencies such as Alcatel-Lucent, BMW, Boeing, Bombardier Transportation, Mitsubishi, Motorola, NASA, Sony, Verizon and many more.
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