Short Take: CheckFree to take Q3 charge

CheckFree expects to take a fiscal third-quarter charge of between $30 million and $40 million due to an agreement the provider of e-commerce processing services announced with Integrion Financial Network. Under the terms of the agreement, CheckFree will assume the management of Integrion's bill payment fulfillment and customer service operations. Upon completion of the deal, Integrion warrants on 3 million shares of CheckFree stock will be vested.

March 11, 1998 12:45 p.m. PT

expects to take a fiscal third-quarter charge of between $30 million and $40 million due to an agreement the provider of e-commerce processing services announced with Integrion Financial Network. Under the terms of the agreement, CheckFree will assume the management of Integrion's bill payment fulfillment and customer service operations. Upon completion of the deal, Integrion warrants on 3 million shares of CheckFree stock will be vested.