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Tech Industry

Short Take: CheckFree buys Mobius Group

CheckFree has acquired privately held M?bius Group, which provides databases and software for financial planners. CheckFree said the $18 million, all-stock acquisition, will move it into a new market--financial planners. M?bius Group had revenues of $6.6 million in 1998, and CheckFree said the acquisition will boost its profitability this year. CheckFree also continues to work with Mobius Management Systems, a separate firm.

CheckFree has acquired privately held M?bius Group, which provides databases and software for financial planners. CheckFree said the $18 million, all-stock acquisition, will move it into a new market--financial planners. M?bius Group had revenues of $6.6 million in 1998, and CheckFree said the acquisition will boost its profitability this year. CheckFree also continues to work with Mobius Management Systems, a separate firm.