Netzee, Inc. has completed the sale of virtually all its assets to a subsidiary of Certegy.
The deal was completed on Dec. 31. In exchange for $10.4 million in cash, Netzee sold its integrated Internet and banking products. Of that money, Netzee said $800,000 would be placed in escrow to cover various obligations.
Netzee shareholders will receive 50 cents per share. Shareholders approved the deal at a meeting on Dec. 30.