Wednesday, April 4, 2007
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Gwinnett Daily Post
NORCROSS - Norcross' CheckFree Corp. has completed its acquisition of Carreker Corp. for approximately $206 million.
Scott Scredon, spokesperson for CheckFree, said the company hasn't made any decisions on how many, if any, Carreker jobs will be relocated to Gwinnett. Carreker is currently headquartered in Dallas with offices in Memphis and Charlotte.
"There will be very little movement between the offices," Scredon said. "So it will have little impact on the county."
Of CheckFree's approximately 3,600 employees, 950 currently work in Gwinnett County.
CheckFree is hoping its acquisition of Carreker will provide financial institutions with one-stop shopping for expertise and solutions that will reduce redundant processes across multiple payment channels.
CheckFree offers solutions for Automated Clearing House processing, check conversion and payments reconciliation. Carreker will bring experience in payments consulting, check payment technology, fraud management and cash and logistics management, said CheckFree CEO Pete Kight.
A press release by CheckFree said the transaction is expected to be modestly dilutive to underlying earnings per share in the current fiscal year and in fiscal 2008. It is also expected to be dilutive to GAAP (Generally Accepted Accounting Principles) earnings per share in 2007 and 2008.
CheckFree shares closed at $37.67 Tuesday.
CheckFree will give more information regarding the acquisition in its third quarter earnings conference call on April 24.