All the Way to the Bank

By Richard Black | April 28, 2000
Page 1 of 5

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Allen Systems + Viasoft, CheckFree + Bank of America e-billing, Clarus + iSold.com, InfoSpace + IQorder, Intersil + No Wires Needed, TheStreet.com + BiGFiSH

CheckFree (CKFR) acquires Bank of America e-billing assets
* Amount: $395.6 million
* Terms: 10 million shares + 10 million warrants
* Premium: n/a
* Industry: Financial services
* Scorecard: A-
CHARLOTTE, April 27--CheckFree Holdings (CKFR) said it would buy Bank of America's (BAC) electronic billing and payment assets through a strategic agreement that would give the bank a 16 percent stake in CheckFree, a provider of financial electronic commerce services and products. The pact, which is subject to regulatory approval, is valued at $395.6 million plus warrants, based on Wednesday's CheckFree closing share price of 39-9/16.

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InfoSpace (INSP) acquires IQorder.com