After nearly a decade of ownership Intel is selling embedded software company Wind River to investment firm TPG. The chip maker purchased Wind River in 2009 for $884 million to bolster its offering for processors for embedded systems. Terms of today’s deal were not discussed.
Jim Douglas, Wind River’s president, will remain at the helm of the company and will keep his existing executive management team. The purchase by TPG will help Wind River expand its business as TPG plans to invest in the firm. “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,” Douglas said in a statement.
TPG said it expects a lot of growth in the Internet of Things (IoT) and edge computing. About a year ago Wind River launched an on-premises cloud-scale platform called Titanium Control, which will virtualize physical subsystems so companies can automate applications. Titanium Control was intended to help businesses with legacy machine-to-machine (M2M) infrastructure migrate their systems to IoT. It was also part of Titanium Cloud, which is Wind River’s portfolio of virtualization products for data center environments.
Intel said Wind River will remain a key strategic partner, and the two firms plan to continue to collaborate on software-defined infrastructure opportunities. The deal is expected to close in the second quarter of 2018.
Just last week Intel offered components of the Wind River Titanium Cloud and Intel’s Network Edge Virtualization Software Development Kit (NEV SDK) to the Linux Foundation’s Akraino Edge Stack.