CALIFORNIA | LOCAL
January 11, 2000
Digital Insight Corp. of Calabasas and NFront Inc. of Norcross, Va., have scheduled special stockholders meetings in early February to approve a proposed merger between the two companies. Under the agreement, Digital Insight would acquire all outstanding shares of NFront in a tax-free stock for stock transaction. NFront shareholders would receive .579 shares of Digital Insight for each share of NFront common stock. Both companies provide secure online banking services to financial institutions.
June 30, 1999 |
E-Loan Inc., the No. 1 Internet mortgage broker and lender, more than doubled Tuesday after its initial public offering, as investors expect more home buyers to shop online for a loan. The Dublin, Calif.-based company's shares, trading with the symbol EELN, rose $23 to $37 as 14.8 million shares changed hands on Nasdaq. The company sold 3.5 million shares, a 9% stake, and ended the day with a market value of $1.41 billion.
November 23, 1999 |
Calabasas-based Digital Insight Corp. on Monday agreed to buy rival NFront Inc. in a $439-million stock deal that would merge two of the leading Internet banking services companies. Analysts say the acquisition is a logical step in the consolidation of a relatively new industry. NFront is focused on providing Internet services to smaller community banks around the nation. Digital Insight's services are focused on credit unions.
August 16, 1999 |
Brookline Savings Bank in Boston, in business since 1871, leaped into cyber-banking this year by offering online banking to its customers. Keeping up with technology is one thing, keeping down costs is another. So the tiny bank leased its home banking service from Digital Insight Corp. in Calabasas. Cyber-banking is the bread and butter of 4-year-old Digital Insight, with 380 customers, mostly credit unions and pipsqueak-to-mid-sized banks.