CheckFree Closes Deal to Acquire Corillian - Now the real work begins
This just went out. Today CheckFree completed acquiring Corillian. It started in February, and the acquisition phase is complete. Now the real work starts.
In the press release, this sentence struck me:
The combined organization will have the potential to provide a market-leading, fully integrated, secure and scalable online banking, electronic billing and payment platform. Together, CheckFree and Corillian’s platforms serve 21 of the top 25 financial institutions, more than 40 million online banking consumers, more than 31 million electronic billing and payment consumers, and more than 250,000 small businesses.
It's going to be interesting as our little 300 person company becomes part of a 3000+ person company, but the potential for good that we can do is so much greater as one entity. We'll be learning about the new organization and how we fit into it in the coming months. I visited the campus in Atlanta, Georgia and got to hang out with a number of the key players working on the integration and I can attest to the coolness of their corporate culture. We'll see what tomorrow will bring. Wish me luck.
Scott Hanselman is a former professor, former Chief Architect in finance, now speaker, consultant, father, diabetic, and Microsoft employee. He is a failed stand-up comic, a cornrower, and a book author.
Having been part of many acquisition relating to banking and data processing, I can only imagine what the outcome may be for you a year from now. I'm 1 of 10 remaining from a 600+ person NCR subsidiary buyout 6 years ago.
Hopefully, the programming department doesn't change much on you... It did for me when our Tax Software company was purchased... Gone were all the perks... all the vacation. Replaced with nominal pay raises and no overtime.
I just hope they have somewhere to put all the Hanselman clones!
My only experience with CheckFree corp is via their MyCheckFree.com website, which I have been using to pay my OldNavy credit card for a while. I have to say, MyCheckFree.com is, by miles and miles and miles, the worst online financial experience I've ever encountered. Their site is impossible to navigate, obscures important information, is barely configurable, and offers infuriatingly dismal support options. One particular gripe is that their site's autopay feature only lets you pay the minimum due on your card, not the full amount, so you still have to log in each month and pay it off.
That said, I'm sure it's just one small part of their business, so again, good luck!
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Portland > (Atlanta * 10)