WIND--Wind River Acquires AudeSi, Gains Additional Java, Internet Appliance Expertise
BUSINESS WIRE - March 13, 2000 09:47
ALAMEDA, Calif. and CALGARY, Alberta, Mar 13, 2000 (BUSINESS WIRE) -- Wind River Systems, Inc. (Nasdaq:WIND), a leading provider of software and services for smart devices in the Internet age, announced today a definitive agreement to acquire Calgary, Alberta-based AudeSi Technologies Inc.
AudeSi is a privately held supplier of innovative embedded Java(TM)-based tools and other components for building flexible, multi-application consumer devices. This acquisition reaffirms Wind River's commitment to the Java platform and to providing more complete solutions for the specific needs of vertical markets. AudeSi will help Wind River offer original equipment manufacturers (OEMs) of Internet appliances, digital consumer electronics, and business terminals additional technology to develop integrated Java-based products faster and with greater functionality.
Wind River will acquire AudeSi for 1.075 million shares of Wind River stock. Closure of the acquisition is subject to United States and Canadian regulatory approvals. The transaction is expected to be moderately dilutive in the first year. Upon completion of the acquisition, AudeSi's 50 staff members, including its senior management team, will become part of Wind River's Consumer business unit and remain located in Calgary, Alberta, Canada. Going forward, the Calgary site will add additional engineering resources and become a hub of information appliance and Java expertise for the company.
"Analysts expect the market for information appliances to expand dramatically from 11 million units and $2.4 billion in 1999 to 89 million units and $17.8 billion in 2004 (IDC)" stated J.C. Sarner, vice president and general manager, Wind River Consumer business unit. "We are pleased to be able to better address this market with AudeSi's acknowledged engineering expertise and the strong enabling technology they have developed in Calgary. We look forward to building new technology together and expanding the options for customers using Wind River's Personal JWorks(TM) tools to create the next-generation of smart devices."
"Because we have already used Wind River technology on projects such as the award-wining Mini ATM, AudeSi and Wind River have enjoyed a great partnership for several years and we look forward to deepening our relationship," said Brian McKinney, president of AudeSi. "We agree the foundation for connected smart devices must be a reliable, scalable, and manageable platform that accelerates time to market. We believe that Wind River's market leadership is a driving force that will lead the industry in the direction it needs to go. Its integration of leading-edge technologies and vision for targeted solutions in the consumer market makes sense for creating an industry standard platform, which has long been our goal at AudeSi."
"To ensure that our customers get the best technology possible in the global economy, Wind River must tap into the best minds in embedded technology regardless of where they are geographically located," said Curt Schacker, vice president of marketing and corporate development for Wind River. "AudeSi and Wind River have a great fit of technologies and a long-standing working relationship. The acquisition of AudeSi is also a strong step forward in Wind River's strategy of accessing engineering talent worldwide. As part of that plan, we anticipate making AudeSi the centerpiece of an increased Wind River presence in Canada."
About AudeSi
AudeSi, founded in 1997, is a privately held technology start-up company based in Calgary, Alberta, Canada. With a foundation in embedded Java, AudeSi provides products and services to consumer electronics manufacturers and Internet service providers looking for software and platform management solutions to enter the growing information appliance market. AudeSi's development is focused on providing accelerated time to market, future-ready smart devices, and a manageable, distributed services platform for these devices. AudeSi is funded by a consortium of funds represented by Ventures West Management Inc., Business Development Bank of Canada, and Puglisi Howells & Co.
About Wind River Systems, Inc.
Wind River Systems, Inc., windriver.com, is the worldwide leader in embedded software. Wind River provides software development tools, real-time operating systems, and advanced connectivity for use in products throughout the Internet, telecommunications and data communications, digital imaging, networking, medical, computer peripherals, automotive, and aerospace/defense markets. Wind River is how smart things think. Founded in 1983, Wind River is headquartered in Alameda, Calif., with operations in 15 countries worldwide.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the risks inherent in acquisitions of technologies and businesses, including the integration of separate workforces, the timing and successful completion of technology and product development through production readiness, integration of such technologies and businesses into Wind River Systems, unanticipated expenditures, changing relationships with customers, suppliers and strategic partners and other factors described in the company's most recent Form 10-K and other periodic filing with the Securities and Exchange Commission.
Wind River Systems, VxWorks and the Wind River logo are registered trademarks of Wind River Systems, Inc. Personal JWorks is a trademark of Wind River Systems, Inc. Other names are registered trademarks or trademarks of the respective companies or organizations.
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