Electronic commerce developer CheckFree Corp is paying $18m cash for Integrated Decision Systems Inc, which provides enterprise portfolio management software to the financial services industry.
The business will be integrated with CheckFree’s Investment Services division, and CheckFree said it will give its money-manager clients links to a larger network of broker/dealer organizations. The deal also gives CheckFree additional technology, including new retail brokerage performance reporting tools.
CheckFree said that for the fiscal year ending June 30, 2006, the purchase will be dilutive to expected GAAP earnings per share by about $0.03 and accretive thereafter. It now expects GAAP earnings per share for 2006 in the range of $1.08 to $1.13.