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Merger deals wake up Wall Street

Two deals wake up Wall Street, as CheckFree grabs Microsoft-backed TransPoint and Valley Media inks a deal to boost digital music downloads.


  latest developments 

CheckFree grabs Microsoft-backed TransPoint in a deal that may accelerate the adoption of online payments. Separately, the market for digital music downloads could get a boost from a recent deal.


CheckFree buys TransPoint for $1 billion
update Shares of CheckFree rise as much as 71 percent after the company said it agreed to buy Microsoft-backed TransPoint for nearly $1 billion.

Music firms team for digital downloads
Valley Media and announce they will merge in a move that could hasten the adoption of digital downloading as a means of commercial distribution. quits planned buy
The music download destination cites the unavailability of pooling of interest accounting for the merger but says it will take a "major stake" in the Web event planner.