CheckFree has entered into an agreement to purchase Carreker Corporation. Under the terms of the agreement, CheckFree will acquire all of the outstanding shares of Carreker common stock at a price of US$8.05 per share, for a total purchase price of approximately US$206m on a fully diluted basis. Through this acquisition, the company aims to expand its presence in payments processing by providing processing and risk management capabilities for ACH, check and cash. It will also become a provider of solutions and consultancy for the convergence of check and electronic payments. The proposed acquisition combines CheckFree’s payments processing business with Carreker’s history in check conversion – the ability to capture and process a digital image of a paper check. As a result, the combined organization aims to be able to convert paper checks into electronic items at the earliest possible points in the payments process – whether at the bank branch, corporate back office or lockbox.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.