Online Resources to Acquire Electronic Payment Competitor

CHANTILLY, Va. – Online Resources Corp. said it has agreed to acquire Internet Transaction Solutions, a Columbus, Ohio, competitor in the online payments business, for $45 million. ITS offers electronic payment services to utilities and the collections business. Online Resources plans to retain the company’s Columbus office and its 39 employees. The deal is expected to close in 30 days. Separately, Online Resources reported a loss of $1.2 million, or four cents a share, for its second quarter, compared to a profit of $1.4 million, or five cents a share, for the second quarter last year. For the first two quarters, the company reported a loss of $10.6 million, or 41 cents a share, compared to a profit of $2.2 million, or eight cents a share, for the first half last year.