A 6-year-old Camarillo software firm, Quad Design Technology Inc., is being acquired by a Boston-area company for stock valued at more than $16 million.
Quad, which produces software used in designing electronic products, has 26 employees but expects to add more, said its president and co-founder, Larry Rubin.
"We're in a growing field. We're expanding and we expect to continue expanding," said Rubin, who will remain as Quad's president after it becomes part of Viewlogic Systems of Marlborough, Mass.
Rubin said Quad, founded in April, 1987, had sales of $5.3 million in 1992, a 39% increase over the previous year. He said the company had net profits of $600,000 last year.
"We've done well throughout the recession," he added. "In fact, we have current openings for qualified people in both hardware and software."
Quad is being acquired for 872,700 of Viewlogic's common shares. The stock traded at $19.13 per share last week, indicating a purchase price of $16.7 million.