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Trustonic, Microchip partner on security platform for Internet of Things ••• Tive announces supply chain tracker with long battery life ••• TPG Capital completes acquisition of IoT software provider Wind River ••• Leti demos waveform for 5G low-power wide-area IoT networks.
TPG Capital Completes Acquisition of IoT Software Provider Wind River
TPG Capital (TPG), the global private equity platform of alternative asset firm TPG, has announced that it has completed its acquisition of Wind River, a leader in delivering software for the Internet of Things (IoT). TPG's acquisition of Wind River from Intel was announced on April 3, 2018. Terms of the transaction are not being disclosed.
For nearly 40 years, Wind River has helped the world's technology leaders power generation after generation of the safest, most secure devices in the world. The company's software runs the computing systems of the most important modern infrastructure and is accelerating the evolution from automated to autonomous systems across a diverse range of use cases — from collaborative robots to commercial and military drones, connected cars to the connected factory floor — as well as the intelligent communication networks that support these applications.
The newly independent company will be led by Wind River President and now Chief Executive Officer Jim Douglas. Nehal Raj, Partner and Head of Technology investing at TPG, will serve as Chairman of the company's Board of Directors.
"Wind River is leveraging the power of IoT, intelligent devices, and edge computing to fundamentally transform critical infrastructure sectors," said Raj. "This acquisition provides the company with the additional resources and focus needed to further differentiate itself as a market-leading provider of software for Industrial IoT. We look forward to working closely with management to identify and execute on opportunities to invest in organic and inorganic growth."
"This is an exciting day for Wind River. Through this partnership with TPG, we will have new opportunities to innovate and evolve our industry-leading software portfolio, creating additional value for our customers and partner ecosystem," said Douglas. "This acquisition is a clear endorsement of the unique value our software provides for accelerating digital transformation across critical infrastructure sectors, and we are thrilled to work with TPG in this next phase of our growth trajectory."
TPG has a history of partnering with dynamic companies that are changing and enhancing different markets through innovative technology. Across platforms, select investments include C3 IoT, CCC Information Services, IQVIA (formerly QuintilesIMS), Intergraph, McAfee, Mediware Information Systems, Noodle.ai, and Zscaler.
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