agreed to acquire banking software maker
for about $245 million.
CheckFree will pay $5.15 a share for Corillian, representing a 49% premium over Tuesday's closing price of $3.45.
Shares of Corillian were jumping $1.56, or 45%, to $5.01 Wednesday. CheckFree shares were down 90 cents, or 2.2%, to $40.72.
"The combination of CheckFree and Corillian will allow for tighter integration of electronic banking, billing, payment and service support functionality to deliver a more efficient and complete consumer and small business user experience," CheckFree said.
The deal is expected to close on or about June 1.