Wednesday, January 4, 2006
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Gwinnett Daily Post
NORCROSS - CheckFree Corp. said on Tuesday it acquired PhoneCharge Inc., an Internet and telephone bill payment company, for $100 million in cash.
Norcross-based CheckFree - one of Gwinnett's largest employers - said the acquisition expands its electronic payment business and strengthens its position in the market.
CheckFree's stock price, which has hovered between $32.33 and $50.55 over the past year, rose 68 cents Tuesday to close at $46.58 on the Nasdaq.
CheckFree said the acquisition will not affect fiscal 2006 earnings but will add to earnings thereafter.
CheckFree plans to offer more details on the acquisition during its Jan. 24 quarterly earnings conference call.
CheckFree, founded in 1981, is a worldwide electronic commerce and products company. Its headquarters cover hundreds of wooded acres along Jones Bridge Road in Norcross.