Intel sells Wind River to TPG
5 April, 2018
The transaction is expected to close in the second quarter of 2018. Intel had acquired Wind River in 2009 for $884 million.
“We see a tremendous market opportunity in industrial software driven by the convergence of the Internet of Things (IoT), intelligent devices and edge computing,” said Nehal Raj, Partner and Head of Technology investing at TPG. “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.”
“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,” said Jim Douglas, Wind River President. Intel had acquired Wind River in 2009 for $884 million. About a year ago Intel sold its controlling stake at McAfee for approximately $4.2 billion, after it had bought McAfee in 2011 for $7.7 billion.
Tom Lantzsch, senior vice president and general manager of the Internet of Things Group at Intel, said that Wind River will remain an important ecosystem partner of Intel. “We will continue to collaborate on critical software-defined infrastructure opportunities to advance an autonomous future.”