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RealTime IT News

Browsing Technology Blowing into Wind River

Wind River Systems, Inc. has acquired ICESoft, a developer of innovative embedded Internet browsing technologies for intelligent devices, from ICESoft AS, of Bergen, Norway for $25 million in cash.

The acquisition will allow Wind River, an embedded software company, to enable manufacturers of consumer electronic products -- including Internet appliances such as web pads and screen phones, Digital TVs, set-top boxes and web-based business terminals -- to incorporate web browsing and secure transaction functionality into their products.

The transaction will be accounted for as a purchase, and it is expected to be moderately dilutive to earnings this fiscal year, and accretive to earnings by the end of next fiscal year.

"The era of smart, connected devices is just beginning," said Tom St. Dennis, president and chief executive officer of Wind River. "Already millions, and very soon even billions, of devices will be connected to the Internet. Many of these devices will need Internet browsing capabilities. ICESoft provides a world-class technology that will enable us to bring to market the industry's most complete Internet appliance solution."

Jeremy Cook, ICESoft co-founder and head of the core development team, will assume the position of development manager of Wind River's new Internet Applications development team within Wind River's Consumer business unit. This business unit, led by vice president and general manager Jean-Claude Sarner, develops solution-level products. ICESoft will continue to operate from Bergen, Norway.