Going mobile: Intel to pay $884 million for Wind River Systems

Intel (INTC) is paying a 44 percent premium in its plan to purchase software-maker Wind River Systems (WIND) for $884 million.

Chip-maker Intel will buy Wind River, which tests and develops software, in the next few months, the company said in a press release today. Intel will pay $11.50 for all outstanding Wind River common shares, which closed at $8 on Wednesday.

By acquiring Wind River, Intel adds a company that can help grow its mobile and embedded device businesses. Intel is looking to expand its reach beyond personal computers and computer servers.