CheckFree to acquire Carreker for $206 million

CheckFree Corp. is a provider of electronic bill-payment services and they have confirmed their decision to acquire Carreker Corp. for $206 million.

Carreker is a financial services software developer and consultant and the deal puts the price of their share at $8.05 per share.

This price is a 5.4 percent premium over Carreker’s closing price on Friday.

CheckFree would be financing this deal through a combination of cash and borrowing. They plan to combine its payments processing ability with Carreker’s expertise in check conversion. The merged company would convert paper checks into electronic items at the earliest possible points in the payments process.

The deal is expected to be closed before the end of the current financial year.

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