Research Engineers Acquires NetGuru

Yorba Linda-based software firm Research Engineers Inc. said Tuesday it agreed to acquire information technology services company NetGuru Systems Inc. of Waltham, Mass., for $4.2 million.

Research Engineers said it will pay $3 million in cash and the rest in a promissory note.

Through the NetGuru purchase and the acquisition in February of R-Cube Technologies Inc., Research aims to broaden its information technology consulting consulting services. The acquisitions give Research annual revenue of $11 million from these services, the company said.

NetGuru has annual revenue of about $6 million.

Research, with 1998 revenue of $12.35 million, sells engineering software and services. Including the two acquisitions, 1998 revenue would have been $20 million, the company said.