Corillian looking to acquire supplier for $5.5 million
07 July 2005 | 5597 views | 0
Online banking vendor Corillian has signed a letter of intent to acquire an unidentified company that supplies it with products and services for $5.5 million.
In a filing with the US Securities and Exchange Commission, Corillian says it will issue its common stock for 40% of the purchase price and pay cash for the rest.
The deal is subject to the completion of due diligence and corporate and third-party approvals.
Corillian has not identified the target.