Software Maker Rexon to Buy Fresno Company

Rexon Inc., a disk-drive and software maker with offices in Manhattan Beach and Simi Valley, said it has signed an agreement to buy Emeritus Technologies, a Fresno software company, for about $6.3 million in stock.

Rexon said the payment would be in the form of 350,000 shares of Rexon common stock and the liquidation value of a new issue of Rexon Series A convertible preferred stock redeemable at the end of five years. The deal is expected to be completed by the end of the month. Rexon operates Wangteck Inc., a wholly owned subsidiary in Simi Valley.