Wiz Technology Inc., a software publisher, said Tuesday that it has acquired Q&A; Software Publishing Inc. in Irvine from Digital Systems Research Inc. in a stock deal. Wiz said it also acquired exclusive worldwide marketing rights to Internet-Intranet applications employing new technology developed by Digital Systems.
Terms of the deal call for Wiz to issue 300,000 shares of its common stock as well as two series of preferred stock totaling 1.5 million shares that can be converted to common stock over time. The net assets of Q&A; acquired by Wiz total about $1.1 million, the company said.
As part of the transaction, Willie Woods, chairman of Digital Systems, will join the Wiz board, and Brian Barry, a Digital Systems senior vice president, will take on added duties as Wiz’s director of Internet operations.