Wind River has announced in a recent release that global alternative asset firm TPG will acquire the company from Intel. Wind River President, Jim Douglas, and his existing executive management team will lead the newly independent Wind River after the transaction closes.
“Our technology team is focused on backing strong, market-leading companies in growing industries,” said Nehal Raj, Partner and Head of Technology investing, TPG. “We see a tremendous market opportunity in industrial software driven by the convergence of the Internet of Things (IoT), intelligent devices and edge computing. As a market leader with a strong product portfolio, Wind River is well positioned to benefit from these trends. We are excited about the prospects for Wind River as an independent company, and plan to build on its strong foundation with investments in both organic and inorganic growth.”
For nearly 40 years, Wind River has helped the world’s technology leaders power safe, secure devices. The company’s software runs the computing systems for modern infrastructure, including manufacturing plants, medical devices, aircraft, railway, automobiles, and communications networks. Wind River’s products and solutions enable engineers, developers, manufacturers, and system integrators to build intelligent connected devices, sensors, gateways, and networks that unlock machine data and connect it to cloud and IT environments.
“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, President, Wind River. “At the same time, TPG will provide Wind River with the flexibility and financial resources to fuel our many growth opportunities as a standalone software company that enables the deployment of safe, secure, and reliable intelligent systems.”
The transaction, for which Allen & Company LLC served as financial advisor to Intel, is expected to close in the second quarter of 2018. The terms of the agreement are not being disclosed.
“This move is designed to sharpen our focus on growth opportunities that align to Intel’s data-centric strategy,” said Tom Lantzsch, SVP and GM, Internet of Things Group, Intel. “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.”
Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.
