Shareholders of the Hillboro, Ore., software provider Corillian Corp. have approved its deal to sell itself to the Atlanta online bill-payment company CheckFree Corp.
The deal was announced in February, and the shareholder vote was announced Monday.
Corillian shareholders would receive $5.15 in cash for each of their common shares. The transaction is expected to close next month.
CheckFree has said Corillian would round out its payments capabilities and enable it to provide a version of its payment service that is better integrated with online banking.
Corillian also offers an online bill-payment warehouse database. CheckFree has said it is in talks with a large customer (which it would not name) that is considering taking some of its business in-house. Analysts have speculated that Bank of America Corp., one of CheckFree’s largest clients, plans to shift its payment warehouse in-house.
