CheckFree To Sell Mortgage Division

London Bridge Software Holdings plc announced Wednesday that it has agreed in principle to purchase CheckFree's mortgage products division.The terms of the deal will not be released until negotiations are finalized and a definitive agreement is executed. The deal is expected to close in late July. The mortgage products division operations and most of its 103 associates will remain in Atlanta and in Orlando, Fla. CheckFree announced in April that it planned to sell off seven divisions so it could concentrate on financial electronic commerce processing. To date, the company has sold its check processing, electronic cash management, and wire transfer business. CheckFree expects to complete the announced divestitures by the end of July. London Bridge acquired CheckFree's Recovery Management Services business in August.