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Research Engineers to Buy Houston Software Company

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<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.

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Research Engineers’ stock closed Monday at $5.38 a share, up 13 cents. (Dow Jones)

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