CheckFree Sells Business Unit

No price is disclosed.
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Financial ecommerce services provider

CheckFree

(CKFR)

completed the sale of its Durham, N.C.-based M-Solutions unit to Informa Investment Solutions, a subsidiary of Informa Financial Information.

The financial details were not disclosed.

CheckFree said the sale may cut its third-quarter revenue by about $1.5 million but should also result in a one-time gain.

The company now expects third-quarter revenue of $216 million to $221 million.

CheckFree's shares were trading at $51.53, up 3.93%, or $1.95.

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