Security APL Acquired By Ambitious Checkfree

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In a stock transaction valued at some $50 million, portfolio management and accounting system vendor Security APL Inc. has been acquired by CheckFree Corp., a provider of consumer electronic commerce systems that has been looking to further its penetration into the banking and institutional financial services marketplaces. Among the areas into which CheckFree says it hopes to expand are banks, retail brokerages and money management firms. Still, the deal for Security APL will likely find its

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