CheckFree Corporation has completed its acquisition of Carreker Corporation, buying all of the outstanding shares of Carreker common stock at a price of $8.05 per share, for a total purchase price of approximately $206 million on a fully diluted basis.
Through this acquisition, CheckFree is now a single provider of consulting advice and applications for financial institutions across cash, check and ACH systems focused on helping banks create new products and reduce redundant processes across multiple payment channels.
“CheckFree has combined its comprehensive solutions for ACH processing, check conversion and payments reconciliation with Carreker’s experience in payments consulting, check payment technology, fraud management, and cash and logistics management to create a leader in payments technology,” said Pete Kight, CheckFree chairman and chief executive officer.