By Lisa Kerner
Charlotte, N.C., Jan. 2 - CheckFree Corp. agreed to purchase Carreker Corp. for about $206 million, or $8.05 per share of Carreker common stock, according to a news release.
The transaction is expected to close by March 31.
CheckFree said it will finance the transaction with a combination of existing cash balances and revolving debt.
"This proposed acquisition is the positive outcome of the strategic alternatives review process that has been underway at Carreker for the past year," chairman and chief executive officer John D. Carreker said in the release.
Carreker is a Dallas-based provider of payment technology and consulting services for the financial services industry.
Located in Atlanta, CheckFree provides financial electronic commerce services and products to organizations worldwide.
| Acquirer: | CheckFree Corp.
|
| Target: | Carreker Corp.
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| Transaction value: | $206 million
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| Payment per share: | $8.05
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| Announcement date: | Jan. 2
|
| Expected closing: | March 31
|
| Stock price for target: | Nasdaq: CANI $7.64 on Dec. 29
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