CheckFree Corp. has announced the closing of its purchase of the assets of Upstream Technologies LLC in Boston, a developer of online tools for asset managers.

The Atlanta software and payments company said late Thursday that the Upstream business will be integrated into its investment services division, which serves the managed accounts industry, and is headquartered in Jersey City.

In announcing the deal in May, CheckFree said it would pay $28 million in cash for substantially all the assets. The company has said it would use Upstream's point-and-click interface to update its APL portfolio accounting service, which manages nearly 2.6 million investment portfolios.