Research Engineers to Buy Houston Software Company
<i> Times Wire Services</i>
Research Engineers Inc. said Monday it agreed to acquire Houston-based Engineering Physics Software Inc. for $10.5 million--half in cash and half in common stock.
Engineering Physics, which does business as Coade Inc., develops and distributes PC-based plant engineering software, specifically targeted at the power and process industries.
The annual revenue of the combined companies is more than $18 million. Yorba Linda-based Research Engineers, which provides engineering software services, had 1997 revenue of $11 million.
Research Engineers’ stock closed Monday at $5.38 a share, up 13 cents. (Dow Jones)
