TPG to acquire Wind River from Intel
NewsApril 06, 2018
ALAMEDA, Calif. Global alternative asset firm TPG will acquire Wind River from Intel, officials say. 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.
Jim Douglas, Wind River President, and his current 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,” 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.”
“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,” says Jim Douglas, Wind River President. “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.”
“This move is designed to sharpen our focus on growth opportunities that align to Intel’s data-centric strategy,” says Tom Lantzsch, senior vice president and general manager of the Internet of Things Group at 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.”
