Intel goes shopping, drops $884m on Wind River Systems

In a corporate-speak heavy press release this morning, Intel announced a “definitive agreement” to acquire Wind River Systems.

Intel indicated a price tag of $11.50 a share for a total of $884 million- a hefty 44% over Wind River’s closing price at the bell on Wednesday. Wind River’s stock recently fell from a high of $12.99 in August to a low of $5.61 in March.

Per their website, Wind River is a “global leader in (DSO)- device software optimization.” Intel described a partnership designed to move beyond its core market of PC and server technology and into mobile, small footprint devices such as smartphones- not a bad plan as super-cheap netbooks steadily gobble up market share from desktops and laptops.

In a statement, Intel detailed the opportunities sought:

“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. “

Translation: streaming porn onto your phone during lunch is about to get even easier!