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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: Brooks Jackson who wrote (2503)	3/11/1998 11:32:00 AM
From: TLindt	Respond to of 8545

I guess it does make sense.... Checkfree/Integrion -2: To Run Integrion's Va. Opers PHILADELPHIA (Dow Jones)--CheckFree Corp. (CKFR) agreed to manage Integrion Financial Network's Herndon, Va., bill payment fulfillment and customer service operations, and set a third quarter charge of $30 million to $40 million to cover costs associated with warrants issued to Integrion Financial. Checkfree said the deal marks a "significant step" in its 10-year processing alliance with Integrion, which provides interactive banking and electronic commerce solutions to financial institutions. Under that deal, set in October 1997, CheckFree will become the supplier of back-end electronic billing and payment processing services to Integrion customers. CheckFree and Integrion are jointly developing the "next-generation banking, bill payment and presentment platform" based on Integrion's IFS platform and CheckFree's processing infrastructure. The 3 million warrants issued to Integrion under the latest stage of the alliance are exercisable at $20.9375 each. Nasdaq-listed shares of Checkfree were halted at that level this morning on news of the deal. CheckFree said in a press release Wednesday that it will assume management of Integrion's Herndon operations later this summer. Integrion is owned by ABN Amro North America, Banc One, Bank of America, Citibank, Comerica, First Chicago NBD, First Union National Bank, Fleet Financial, IBM, KeyCorp, Mellon Bank, Michigan National Bank, NationsBank, Norwest, PNC Bank, Royal Bank of Canada, US Bancorp, Visa USA and Washington Mutual Inc. "Dow Jones News Service" "Copyright(c) 1998, Dow Jones & Company, Inc."