CheckFree Closes Acquisition of Upstream Technologies LLC
31 Maio 2007 - 7:17PM
PR Newswire (US)
ATLANTA, May 31 /PRNewswire-FirstCall/ -- CheckFree Corporation
(NASDAQ:CKFR) today announced that it has completed its acquisition
of substantially all of the assets of Upstream Technologies LLC, a
Boston-based provider of advanced investment decision support and
trade order management tools. The business will be integrated with
the company's Investment Services Division, which provides the
market-leading platform for the managed accounts industry, and is
headquartered in Jersey City, N.J. About CheckFree
(http://www.checkfreecorp.com/) Founded in 1981, CheckFree
Corporation (NASDAQ:CKFR) provides financial electronic commerce
services and products to organizations around the world. CheckFree
Electronic Commerce solutions enable thousands of financial
services providers and billers to offer the convenience of
receiving and paying household bills online, via phone or in person
through retail outlets. CheckFree Investment Services provides a
broad range of investment management solutions and outsourced
services to hundreds of financial services organizations, which
manage about $1.8 trillion in assets. CheckFree Software develops,
markets and supports payment processing solutions that are used by
financial institutions to process more than two-thirds of the 14
billion Automated Clearing House transactions in the United States,
and supports reconciliation, exception management, risk management,
transaction process management, corporate actions processing, and
compliance within thousands of organizations worldwide. Certain of
the Company's statements in this press release are not purely
historical, and as such are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These include statements regarding management's intentions, plans,
beliefs, expectations or projections of the future (paragraph 1).
Forward-looking statements involve risks and uncertainties,
including without limitation, the various risks inherent in the
Company's business, its ability to successfully integrate acquired
companies and other risks and uncertainties detailed from time to
time in the Company's periodic reports filed with the Securities
and Exchange Commission, including the Company's Annual Report on
Form 10-K for the year ended June 30, 2006 (filed September 8,
2006), Form 10-Q for the quarter ended September 30, 2006 (filed
November 8, 2006), Form 10-Q for the quarter ended December 31,
2006 (filed February 8, 2007) and Form 10-Q for the quarter ended
March 31, 2007 (filed May 10, 2007). One or more of these factors
have affected, and could in the future affect the Company's
business and financial results in future periods, and could cause
actual results to differ materially from plans and projections.
There can be no assurance that the forward-looking statements made
in this press release will prove to be accurate, and issuance of
such forward-looking statements should not be regarded as a
representation by the Company, or any other person, that the
objectives and plans of the Company will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and the Company
assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation CONTACT: Judy DeRango Wicks,
+1-678-375-1595, , or Investor Relations, Tina Moore,
+1-678-375-1278, , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/
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