Fiserv, a services provider to the financial and insurance industries, and CheckFree have entered into a definitive agreement whereby Fiserv will acquire CheckFree in an all-cash transaction valued at approximately $4.4 billion. CheckFree offers financial e-commerce services and products, including online banking, electronic payments, and infrastructure and services. Under terms of the agreement, CheckFree shareholders will receive $48 in cash for each share of common stock.

CheckFree and Fiserv have complementary technology, services, and business models. Fiserv anticipates the combined organization will deliver a wider range of product and service offerings for customers as well as provide opportunities for improved growth and efficiency, including the ability to bring new solutions to market faster.

"CheckFree's industry-leading payment and Internet banking capabilities will significantly accelerate our strategic transformation, extending our service platform to the largest financial institutions," says Jeffery Yabuki, president and CEO of Fiserv. "This combination allows us to deliver the best available solutions to all of our clients to enhance growth today and into the future. An important objective of the transaction is to integrate tightly electronic bill payment and settlement capabilities with our core account processing and risk management solutions to create a unique value proposition unrivaled in the marketplace today."