Wind River reported April 3 that global alternative-asset firm TPG will buy it from Intel. Jim Douglas, president at Wind River, and his existing executive management team will lead the newly independent Wind River after the transaction closes. The transaction is expected to close in 2Q18. Terms of the agreement are not being disclosed.
“Our technology team is focused on backing strong, market-leading companies in growing industries,” says Nehal Raj, partner and head of technology investing at 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 generations of safe, secure devices. The firm’s software runs the computing systems of important modern infrastructures, including manufacturing plants, medical devices, aircraft, railway, automobiles and communication networks.
“This acquisition will establish Wind River as a leading independent software provider uniquely positioned to advance digital transformation in critical infrastructure segments with our comprehensive edge-to-cloud portfolio,” says Douglas. “At the same time, TPG will give Wind River 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.”
Tom Lantzsch, senior vice president and general manager of Intel's IoT group, adds: “This move is designed to sharpen our focus on growth opportunities that align to Intel’s data-centric strategy. 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.”