Intel to sell off Wind River
Nehal Raj, Partner and Head of Technology investing at TPG said of the acquisition, “We see a tremendous market opportunity in industrial software driven by the convergence of the IoT, intelligent devices and edge computing. Wind River is well positioned to benefit from these trends. We plan to build on its strong foundation with investments in both organic and inorganic growth.”
“This acquisition will establish Wind River as a leading independent software provider uniquely positioned to advance digital transformation within critical infrastructure segments with our comprehensive edge to cloud portfolio,” said Jim Douglas, Wind River President. “TPG will provide Wind River with the flexibility and financial resources to fuel growth opportunities as a standalone software company that enables the deployment of safe, secure, and reliable intelligent systems.”
Tom Lantzsch, senior vice president and general manager of the Internet of Things Group at Intel said, “Wind River will remain an important ecosystem partner, and we will continue to collaborate on critical software-defined infrastructure opportunities to advance an autonomous future. We expect this transition will be seamless for our mutual customers and partners.”
The transaction is expected to close in the second quarter of 2018. The terms of the agreement are not being disclosed.
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