Another CU Vendor to be Taken Over; CheckFree Buys Corillian

ATLANTA – Electronic payments giant CheckFree Corp. announced this morning it has agreed to acquire Corillian Corp., the provider of Internet services for credit unions and banks, for $5.15 a share, or $245 million. The deal comes closely on the heels of takeovers of Open Solutions, Digital Insight and John H. Harland Co., all major vendors for credit unions. Corillian, itself, recently completed the acquisition of InteliData Technologies, another provider of online services for credit unions and banks. The latest deal will combine Corillian’s Voyager suite of online services with CheckFree’s electronic billing and payment services. Corillian provides electronic services to more than 30 of the top 100 U.S. banks and 21 of the top 100 U.S. credit unions.