ATLANTA Netzee Inc., a provider of Internet banking software to community institutions, said Friday that it has acquired the software products and customer database of fellow Atlanta company HomeCom Communications Inc., a provider of Internet financial software and Web site development.
The purchase is in line with our recent efforts to focus on providing a suite of Internet-enabled solutions for community financial institutions, Netzee chief executive officer Donny R. Jackson said in a news release. The release did not give the purchase price.
Netzee, which raised $63 million during its initial public offering in November 1999, has stumbled in recent months. Its stock has dipped below $1 in recent trading and closed Friday at 62 cents, up 5% from Thursday.
In its Feb. 20 fourth-quarter and yearend earnings announcement, Netzee projected 2001 revenues in the range of $26 million to $28 million; it had projected $32 million to $36 million in November.
The HomeCom acquisition is Netzees second in recent months. On Nov. 10 it bought the Internet banking and bill payment business of John H. Harland Co.