Press Release | Transaction Profile |
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Overview of Transaction
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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 |
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Transaction enhances the online banking experience of consumers and businesses by combining the best of online banking, presentment and payments |
Significance of Transaction
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$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 |
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Acquisition follows CheckFree's announcement of its $206 million cash acquisition of Carreker in January 2007 |
FT Partners' Role
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FT Partners acted as sole strategic and financial advisor to Corillian and its Board of Directors |
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FT Partners also provided a fairness opinion to Corillian's Board of Directors |
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