Research Engineers to Buy Software Firm
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Research Engineers Inc. of Yorba Linda said Friday it agreed to acquire Engineering Physics Software Inc. of Houston in a cash and stock deal valued at about $10.5 million. Under terms of the deal, Research Engineers will pay $5.25 million in cash and 980,000 shares of its common stock, which closed at $4.75 down 13 cents, in Nasdaq trading. Research Engineers provides engineering software services. Engineering Physics develops PC-based plant engineering software. The deal is expected to be completed by year’s end.
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