Subsequent Events

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On April 28, 2013, we completed the sale of our U.S. and Canada based CheckView^® business unit for $5.4 million subject to an estimated working capital adjustment of $4.1 million to arrive at cash proceeds of $1.3 million. We received the cash proceeds on April 29, 2013. We have incurred estimated selling costs of $1.1 million in connection with the transaction. We also issued a guarantee to the lessor of the related facilities and executed a transition services agreement with the buyer to provide services including but not limited to the standalone information technology environment setup, systems modifications, human resources and payroll processing support. Direct costs incurred by us in connection with this agreement will be billed to the buyer on a monthly basis. The loss on our sale of the U.S. and Canada based CheckView^® business is estimated to approximate $13.2 million and will be recorded through discontinued operations on the Consolidated Statement of Operations during the second quarter ended June 30, 2013.