Online Resources to Acquire Internet Transaction Solutions

Online Resources Corporation (Nasdaq: ORCC) today announced a definitive agreement to acquire Internet Transaction Solutions, Inc. (ITS), for $45 million in stock and cash.

ITS has over 150 clients and processes more than 5 million payments per year. The company is a leading provider of web, IVR and call center payments to the receivables management and utility industries.

The ITS acquisition extends Online Resources’ commitment to the BSP business it entered through the acquisition of Princeton eCom in 2006.

In addition to its client base, ITS brings Online Resources its patent pending enrollment capabilities, which supports one of the highest consumer adoption rates in the BSP industry.

“It would be hard to find a better match for our eCommerce division,” stated Matthew P. Lawlor, chairman and chief executive officer of Online Resources. “As the pre-eminent billpay provider to the consumer accounts receivable industry, ITS provides a complementary distribution channel for our collections and pin-less debit capabilities. We are also excited about possibilities to expand our utility biller services, and look forward to working with ITS’ first class organization.”

ITS chief executive officer Kent D. Stuckey stated, “Online Resources’ strategic e-commerce goals mirror those of ITS in serving our biller clients with the most comprehensive suite of high quality payments services. The ITS management team and I are thrilled to begin this strategic integration, which will deliver significant product and scale benefits to our combined clients and partners.”