Wednesday, December 19, 2007

Intuit Looks To Acquire Electronic Clearing House, In Renewed Deal

Mountain View-based financial software provider Intuit has made another offer for camarillo, California-based credit card processing firm Electronic Clearing House, the firm said Wednesday afternoon. Intuit said it will pay $17 per share of ECHO in cash, in a deal worth approximately $131M. The deal is the second attempt by Intuit to acquire ECHO, after an aborted acquisition in March. That deal was mutually terminated by the firms in March after Electronic Clearing House said it was cooperating as a witness in a federal investigation relating to its Internet wallet customers, which were provided to online gaming websites.