Wind River to Acquire Interpeak
Under the terms of the agreement, Wind River paid approximately $20 million in cash and restricted stock for Interpeak. Wind River anticipates this acquisition will be mildly accretive in Fiscal Year 2007 and is not changing its NonGAAP financial guidance for Q1 or the Fiscal Year that was given on March 8th, 2006 in its fiscal year 2006 earnings release. Wind River's Fiscal Year 2007 ends January 31, 2007.
"Wind River and Interpeak are DSO companies that share a cohesive philosophy and offer complementary technology to a common installed base," said Ken Klein, chairman, president and chief executive officer, Wind River. "As the explosive growth of connected devices continues, device manufacturers will require a high-quality, secure networking stack that can run universally on both our RTOS and Linux based platforms. Interpeak's secure, certifiable, networking expertise will enhance Wind River's DSO strategy for delivering a standardized device software development approach that provides customers with the choice and flexibility to build any type of connected device."
Interpeak offers numerous products that securely connect next-generation devices to the Internet. Interpeak's networking, security and mobility products help developers add functionality and improve device and equipment quality across a wide range of markets including wireless devices, wireless infrastructure, network infrastructure and safety and mission critical devices. Alongside Wind River, Interpeak's extensive expertise in IPv6, routing, wireless and mobility technologies will enable device and equipment manufacturers to deliver their products to market more quickly and offer the latest networking and security capabilities.
By integrating Interpeak's secure networking technology, Wind River will provide its customers with broader functionality including a secure networking middleware stack that can run on either Wind River VxWorks or Linux based platforms; increased scalability to support secure networking requirements for even the smallest footprint devices and expanded safety and mission critical certification support.
About Wind River
Wind River is the global leader in device software optimization (DSO). Wind River enables companies to develop and run device software faster, better, at a 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, California, with operations worldwide. To learn more, visit Wind River at http://www.windriver.com or call Wind River at 1-800-872-4977.
This press release contains forward-looking statements, including those relating to the anticipated impact of the acquisition on Wind Rivers financial results in 2007, the anticipated growth in the marketplace for connected devices and the needs of manufacturers of such devices, the expected benefits of the acquisition to Wind River generally and, more particularly, to its DSO strategy, and the expected benefits of a combined product offering to Wind River's customers. Words such as "expects," "anticipates," "projects," "intends," "plans," "believes" and "estimates," variations of such words and similar expressions are also intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein. Factors that could cause or contribute to such differences include but are not limited to the success of Wind River's implementation of its new and current products, business models and market strategies, the ability of Wind River to successfully integrate the combined companies and their products and technologies, the ability of Wind River to address rapidly changing technology and markets and to deliver its products on a timely basis, the ability of Wind River to retain key Interpeak personnel following the acquisition, the ability of Wind River customers to sell products that include the company's software, the impact of competitive products and pricing, weakness in the economy generally or in the technology sector specifically, the success of the company's strategic relationships and the impact of other costs and risk factors detailed in Wind River's Annual Report on Form 10-K for the fiscal year ended January 31, 2006, its Quarterly Reports on Form 10-Q and other periodic filings with the Securities and Exchange Commission. Wind River undertakes no 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.
The Wind River logo is a trademark of Wind River Systems, Inc., and Wind River and VxWorks are registered trademarks of Wind River Systems, Inc. Other marks used herein are their property of the respective owners.
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