Corillian Proceeds With InteliDataTakeover
BEAVERTON, Ore. - (07/11/05) -- Corillian Corp. said last week itplans to complete its planned acquisition of InteliDataTechnologies Corp., despite the diminishing financial prospects ofthe Reston, Va., Internet services provide for financialinstitutions. Corillian plans to acquire InteliData in a cash andstock transaction for an aggregate purchase price of approximately$20 million. The specific dollar value of the stock considerationthat InteliData stockholders will receive will depend on the marketvalue of Corillian common stock at the time of the merger. The dealcomes even after InteliData shares have fallen below $1, promptinga move by the Nasdaq to delist them from its national market, and awidening of losses for InteliData to $1.9 million, for the firstquarter last year.