Sunday, February 18, 2007

Hit #144 (Corillian)

Corillian (CORI) is being bought by Checkfree for $257 million in a cash deal. The offer, of $5.15/share gives me a gain of 47.1% over my average cost of $3.5/share.

This was a speculative bet, based on insider buying and the cash hoard at Corillian. I have opened a small position recently in a competitor S1 (SONE), for the same reasons.

Checkfree (CKFR) itself is a stable, long-term bet, and is worth buying even at current levels. Like Digital Insight, which was bought out by Intuit not too long ago, I suspect somebody will find Checkfree attractive as a takeout candidate.

I own a few Checkfree shares, bought a long time ago, and plan on adding more.

Previous hit - Keane (#143)


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