Security First Technologies said Friday it has agreed to buy 10-month-old VerticalOne Corp. for $166 million in stock, a move that company officials said would help banks better compete with Internet financial portals.

The acquisition, the Atlanta-based company's third this year, further shores up its position as the dominant provider of Internet banking software and outsourcing services, and sheds light on where it believes competitive threats for banks lie.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.