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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?
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To: Ed Flynn who wrote (19997)3/10/2003 10:52:46 AM
From: StocksMan  Read Replies (1) of 20297
 
Billserv Engages Investment Bank to Pursue a Strategic Financial Transaction; Stifel, Nicolaus & Company to Lead Effort

Monday March 10, 10:41 am ET

SAN ANTONIO, March 10 /PRNewswire-FirstCall/ -- Billserv, Inc. (OTC Bulletin Board: BLLS - News) today announced that it has retained the investment banking firm of Stifel, Nicolaus & Company as financial advisor to pursue a sale, merger or similar strategic transaction.

Michael Long, chairman and CEO of Billserv, Inc., noted, "Billserv has established critical mass of over 120 clients representing over 3.1 billion annualized paper bills and a payment stream projected to top $1.5 billion in 2003. Our innovation, rapid product development and product introductions have resulted in a growing market presence as the leading provider of outsourced Electronic Bill Presentment and Payment services. However, revenue from these rapidly growing transactions has not been sufficient to expand Billserv beyond its current state. Stifel has demonstrated knowledge of the Internet payments industry backed by a strong record of successfully closing deals in the space. We are confident in Stifel's ability to secure the transaction that will provide Billserv with the business synergies and resources it needs to grow capabilities for its customers and to continue in its industry leading position. . ."

biz.yahoo.com
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