Checkfree Corp. said it is moving to finalize its previously announced planned acquisition of Intuit Services Corp.
The deal, which would involve a swap of 12.6 million shares of Checkfree common stock, awaits the approval of the Securities and Exchange Commission.
But with the expiration of the mandatory waiting period called for in the Hart-Scott-Rodino Antitrust Improvements Act, SEC approval and a shareholder vote are the final hurdles before formal completion of the acquisition.
Checkfree, which specializes in home banking and bill payments services, has filed a registration statement and proxy materials with the SEC.
A shareholder meeting to vote on the acquisition is expected to be scheduled for January, said a Checkfree spokesman.
Intuit Services Corp., a Mountain View, Calif.-based subsidiary of Intuit, Inc., processes electronic banking and bill payments for users of Intuit's Quicken personal finance software.
The acquisition would boost Checkfree's base of customers to more than 1 million.