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Updated from 12:14 p.m. EDT
Intel (INTC Quote) said it will acquire Wind River Systems (WIND Quote) in a deal worth $884 million, a sign the chipmaker may be shifting toward IBM's (IBM Quote) approach to doing business.
Intel said it will pay $11.50 a share for Wind River, which represents a 44% premium above the stock's closing price on Wednesday. The deal is expected close during the summer, as Wind River's board of directors has unanimously approved the transaction.
Shares of Wind River surged 47% to $11.76. Intel shares tacked on 1.2% to $16.13. ...
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