News

Corillian Acquiers InteliData

Friday 1 April 2005 10:36 CET | News

Corillian has signed a definitive agreement to acquire InteliData to further its leadership in the online banking and bill payment industry.

The acquisition of InteliData establishes Corillian as the leading bill payment warehouse provider in the world and one of the leading providers of online bill payment technology. Over the past 10 years, InteliData has built a comprehensive suite of online banking, bill payment and credit card solutions designed to meet the near term and emerging opportunities in online financial services. These products provide leading financial service providers with highly scalable and flexible solutions for delivering real-time, Internet-based financial services to their customers. InteliDatas proven solutions have been successfully deployed at many leading financial institutions, including five of the top 10 and 12 of the top 100 U.S. banks. Current InteliData customers include Bank of America, Wachovia, National City, Bank of the West and many other leading financial institutions. The company has a staff of 48 with offices in Reston, Va, Toledo, Ohio and Omaha, Neb. Under the terms of the agreement, Corillian will issue approximately 4,918,032 shares of its common stock to the shareholders of InteliData. Corillian will also pay $4.5 million in cash, subject to certain adjustments. Closing of the transaction is subject to approval of InteliDatas shareholders and other customary conditions.


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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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