In what may be the beginning of a rash of mergers among software vendors to the online banking industry, InteliData Technologies Corp. last month swallowed up Home Account Holdings and its operating subsidiary, Home Account Network. The deal is valued at $36.2 million.
"Consolidation will be the order of the day," predicts Bill Gorog, InteliData's founder and chairman. "We will see fewer players in the online banking software industry in the future." Gorog says he thinks consolidation will become increasingly necessary because companies that offer only "niche" solutions "will have difficulty surviving."