On January 3, 2006, CheckFree announced the acquisition of PhoneCharge, a leading provider of telephone and Internet-based bill payment services. The transaction was worth approximately $100 million in cash, and closed on January 1.

The acquisition will expand CheckFree's electronic bill payment services, allowing billers to offer their cusomters a wider array of payment options from a single provider. Additionally, it will expand the company's market position in convenience payment options such as same-day payments.

CheckFree now offers a complete suite of electronic bill payment services and supports all channels, including walk-in, telephone and lockbox. By using CheckFree's end-to-end solution, billing organizations will be able to reduce the costs and operational complexities that come with managing multiple customers and settlement processes. CheckFree is focused on helping billers optimize their management of the "Revenue Collection Lifecycle."