Fiserv Inc. (NASDAQ: FISV), a provider of technology solutions to the insurance industry, and CheckFree Corporation, (NASDAQ: CKFR), which offers financial e-commerce services and products, today announced they have entered into a definitive agreement, whereby Fiserv will acquire CheckFree in an all-cash transaction valued at approximately $4.4 billion.

Under terms of the agreement, CheckFree shareholders will receive $48.00 in cash for each share of common stock, said Brookfield, Wis.-based Fiserv.

According to the announcement, CheckFree, which deals in online banking, electronic payments, and infrastructure and services, and Fiserv, a provider of information management services to the financial and insurance industries, have "complementary technology, services and business models."