CheckFree Corp. to acquire Corillian Corp.

CheckFree Corp. to acquire Corillian Corp.

CheckFree Corp. has announced that they are going to acquire Corillian Corp. The deal is worth around $245 million.

This acquisition would help CheckFree to increase the online services it can offer to consumers and small businesses.

Corillian specializes in providing Internet banking software and services. They would now merge their software products with CheckFree’s electronic billing and payment and online transaction services.

Pete Kight, CheckFree’s chairman and CEO added in a statement: “CheckFree and Corillian will be able to deliver more efficient integration and innovation, while increasing consumer service levels across the online banking experience.”

The two companies added that this acquisition would require customary stockholder and regulatory approvals.