Wind River announced that global alternative asset firm TPG will acquire the company from Intel. Wind River president Jim Douglas and his 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 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’s software runs the computing systems of many 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 Douglas. “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.