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Tier Tech collects Official Payments.

The Daily Deal

| June 01, 2002 | COPYRIGHT 2003 The Deal LLC. (Hide copyright information)Copyright

Byline: Greg Johnson

Tier Technologies Inc. wants to make sending tax payments through the mail a thing of the past.

The Walnut Creek, Calif., provider of IT consulting and system integration services said Friday, May 31, that it has agreed to acquire Stamford, Conn., e-payment services company Official Payments Corp. in a transaction valued at $74.5 million.

Tier Tech is offering $3 a share in a tender offer set to begin in two weeks. Early August closing is expected.

Tier Tech said that acquiring Official Payments would greatly expand its own transaction processing services, particularly since its Connecticut target has renewed a contract …

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