Intel has completed its purchase of Wind River, which builds software for smartphones and other devices.
The acquisition is costing Intel $11.50 a share in cash for a total price tag of around $884 million, Intel said Friday. Wind River is now a wholly owned subsidiary of Intel, reporting to the chipmaker's Software and Services Group.
By scooping up Wind River, Intel hopes to carve out a greater chunk of the mobile device market. Wind River designs operating systems and other software for cell phones, portable Internet devices, consumer electronics, and in-car "infotainment" systems. With such diverse customers as Sony, Verizon, Motorola, Boeing, and NASA, Wind River has its hooks in the automotive, aerospace, and telecommunications industries.
"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, an Intel vice president and general manager of the company's Software and Services Group.
The purchase of Wind River also moves Intel further into software as an added source of revenue.
Though now owned by Intel, Wind River said it will continue to develop applications for its current customers. The company expects to pick up sales and new customers with access to Intel's technology, brand, and global sales force.
Intel first announced its decision to buy Wind River on June 4.