Integrated to Limit Exec Pay at New Unit
Times Staff and Wire Reports
Integrated Systems Inc. shares soared 23% after the company said it reached an agreement to limit the amount it will pay to executives of a company it acquired last year. The accord with officials of Diab Data Inc. removes any future payments related to the purchase. Shares in the Sunnyvale-based software company jumped $4 to $21.50 on Nasdaq. The company said this week that it would take a $5-million pretax charge in the fourth quarter for a one-time payment to Diab executives. The move will consolidate Diab’s results with Integrated Systems’. Diab executives couldn’t immediately be reached for comment.
