The newly independent company will be led by Wind River President and now Chief Executive Officer, Jim Douglas. Nehal Raj, Partner and Head of Technology investing at TPG, will serve as chairman of the company’s board of directors.
“Wind River is leveraging the power of IoT, intelligent devices, and edge computing to fundamentally transform critical infrastructure sectors,” said Raj. “This acquisition provides the company with the additional resources and focus needed to further differentiate itself as a market-leading provider of software for Industrial IoT. We look forward to working closely with management to identify and execute on opportunities to invest in organic and inorganic growth.”
“This is an exciting day for Wind River. Through this partnership with TPG, we will have new opportunities to innovate and evolve our industry-leading software portfolio,creating additional value for our customers and partner ecosystem,” added Douglas. “This acquisition is a clear endorsement of the unique value our software provides for accelerating digital transformation across critical infrastructure sectors, and we are thrilled to work with TPG in this next phase of our growth trajectory.”
TPG’s acquisition of Wind River from Intel was announced on April 3, 2018. Terms of the transaction are not being disclosed.