Online Resources Announces Financing ForPrinceton eCom Deal

Published July 06, 2006, 1:00 a.m. EDT

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Updated August 27, 2020, 2:10 a.m. EDT

1 Min Read

CHANTILLY, Va. - (07/06/06) Online Resources Corp.announced Wednesday it has completed its $190 million acquisitionof electronic bill presentment and payment company Princeton eCom.Financing for the deal, which consists of $85 million in long-termdebt and $75 million in convertible stock, was provided b yTennenbaum Capital Partners, a Santa Monica, Calif., venture fund.Tennenbaum Capital will get a seat on the Online Resources board asa result. Princeton eCom, which has several major credit unioncustomers, was owned by venture funds CCP Equity Partners, LazardTechnology Partners and Mellon Ventures.

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