ALAMEDA, CA — February 23, 2009 — Wind River (NASDAQ: WIND) today announced that it has signed an agreement to acquire privately-held Tilcon Software Limited, a leading provider of software for creating and deploying graphical user interfaces in embedded devices. Founded in 1987 and located in Ottawa, Canada, Tilcon currently has 18 employees and is exclusively focused on embedded graphics solutions. With this acquisition, Wind River expects to gain proprietary embedded graphical user interfaces that will enhance the value of VxWorks and Wind River Linux software platforms across multiple device types and target vertical markets.
Under the terms of the agreement, Wind River will pay approximately USD $3.5 million in cash to acquire all outstanding capital stock of Tilcon. The completion of the acquisition is subject to customary closing conditions and is expected to occur on or about February 27, 2009.
In aerospace and defense, automotive, industrial and medical applications, programmable graphics solutions are replacing or augmenting more traditional analog gauges and dials, as graphics move from a high-end requirement into mainstream applications in several vertical markets. Tilcon's embedded graphical solutions enable a simpler implementation of graphical user interfaces that requires little or no coding, opening up the number of addressable developers and facilitating product bundling and pricing options that are aligned to Wind River's traditional business models.
"Wind River's acquisition of Tilcon will differentiate and expand our VxWorks and Linux platforms value proposition across many device classes, with the initial focus on vertical markets with immediate graphics opportunity such as industrial and medical applications," said Ken Klein, chief executive officer at Wind River. "With complementary customers, partners and target vertical markets, we believe the combination of Tilcon's proprietary embedded graphics solution and Wind River's product portfolio, sales and marketing expertise, and world-class support will lead to meaningful business synergies."
Read the acquisition FAQs.
About Tilcon Software Limited
Tilcon Software is a leading provider of graphical user interface software tools for embedded systems. Tilcon's rich feature set, support for multiple platforms and extensive experience with graphics development for real-time and embedded projects has resulted in an effective user interface solution used worldwide in demanding applications such as medical devices, driver information systems, consumer electronics, defense systems and a wide range of industrial machinery.
About Wind River
Wind River is the global leader in Device Software Optimization (DSO). Wind River enables companies to develop, run and manage device software faster, better, at lower cost and more reliably. Wind River platforms are pre-integrated, fully standardized, enterprise-wide development solutions. They reduce effort, cost and risk and optimize quality and reliability at all phases of the device software development process, from concept to deployed product.
Founded in 1981, Wind River is headquartered in Alameda, Calif., with operations worldwide. To learn more, visit Wind River at www.windriver.com.
This press release contains forward-looking statements, including statements regarding the expected completion of the proposed acquisition and the expected benefits from the proposed acquisition. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the expectations expressed in the forward-looking statements. Factors that could cause or contribute to such differences include but are not limited to delays in completing the proposed acquisition, failures of closing conditions to be satisfied and difficulties in integrating the operations and products of Wind River and Tilcon. More details about these and other risks that may impact Wind River and its business are included in Wind River's Annual Report on Form 10-K for the fiscal year ended January 31, 2008, its Quarterly Reports on Form 10-Q and its other periodic filings with the Securities and Exchange Commission. Forward-looking statements are based on information as of the date of this press release, and Wind River does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Director, Global Communications