Deutsche Bank's Big Gamble

Will its lavish move into global investment banking pay off?

Wind River Systems Inc. couldn't have picked a worse week for a stock offering. The Alameda (Calif.) software company was scheduled to issue 3.3 million new shares on July 11--right in the middle of a market correction in which tech stocks took their hardest hit in years. Nearly two dozen technology deals expected during the week were delayed or killed. Yet on that tense Thursday, Wind River's bank called every American insitutional investor it knew and was able to place every share. The bank made money on the deal, too.

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