Financial Technology Partners - The Only Investment Bank Focused Exclusively on Financial Technology

FT Partners Advises on $245 Million Landmark Sale in the Online Banking Sector

Overview of Transaction
  • On February 14, 2007, Corillian Corporation ("Corillian") announced its sale to CheckFree Corporation ("CheckFree") for $5.15 per share in cash, representing total consideration of approximately $245 million
  • Transaction enhances the online banking experience of consumers and businesses by combining the best of online banking, presentment and payments
Significance of Transaction
  • $5.15 per share price represents a 60% and 76% premium to Corillian's stock price and enterprise value on February 7, 2007, respectively - one of the highest premiums achieved in the banking technology sector in the last two years
  • Acquisition follows CheckFree's announcement of its $206 million cash acquisition of Carreker in January 2007
FT Partners' Role
  • FT Partners acted as sole strategic and financial advisor to Corillian and its Board of Directors
  • FT Partners also provided a fairness opinion to Corillian's Board of Directors