Wind River President, Jim Douglas, and the existing executive management team will continue to 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. Wind River is well positioned to benefit from these trends and we plan to build on its strong foundation with investments in both organic and inorganic growth.”
Wind River’s software is used to run the computing systems of manufacturing plants, medical devices, aircraft, railway, automobiles, and communications networks.
“This acquisition will establish Wind River as a leading independent software provider and is positioned to advance digital transformation within critical infrastructure segments with our comprehensive edge to cloud portfolio,” said Douglas. “TPG will provide Wind River with the flexibility and financial resources to fuel our many growth opportunities as a standalone software company.”
According to Tom Lantzsch, Intel’s senior vice president and general manager of the company’s Internet of Things Group the move is intended to sharpen the company’s focus on growth opportunities that are better aligned to its 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,” Lantzsch said. “We expect this transition will be seamless for our mutual customers and partners.”
The transaction is expected to close in the second quarter of 2018. The terms of the agreement are not being disclosed.