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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

February 14, 2007 at 1:29 PM

Merger mania claims another NW tech company

This time it’s Corillian, a Hillsboro, Ore.-based company that’s a major provider of online banking technology used by banks and credit unions.

The 10-year-old, publicly traded outfit was sold today to Atlanta-based CheckFree Corp. for $245 million, or $5.15 per share.

That’s a 60 percent premium to its stock price as of Feb. 7, noted Financial Technology Partners, a San Franscisco investment bank that worked on the deal.

You may have been using Corillian software without knowing it. It says more than 30 of the top 100 banks and 21 of the top credit unions are using its online banking platform and billing systems.

Corillian closed at $5 today, up 45 percent and its best showing since December 2004. CheckFree was down 3 percent at $40.29.

Comments | More in | Topics: Enterprise

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