Intel is shelling out $884 million to snap up embedded device software vendor Wind River as it tries to diversify its business outside its mainstay of PCs and servers.
Subject to regulatory approval, the deal is expected to close this summer. Once that's happened, Wind River will become a wholly-owned subsidiary of Intel, with employees reporting to the chip giant's Software and Services Group, which is headed up by vice president and general manager Renee James.
"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 James, in a statement.
"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."
Ken Klein, Wind River's chairman, president and chief executive, added in a statement: "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."
In separate news, earlier this week, Intel also settled a legal battle with Psion over the term netbook'.
