Corporate Report: November 16

California firm purchasing nFinanSe
San Ramon, Calif.-based reloadable prepaid card company AccountNow Inc. has reached a letter of intent to acquire Tampa-based nFinanSe Inc. The acquisition still requires a due diligence period and First California Bank approval.

The transaction is expected to close in phases starting later this month. As currently conceived, nFinanSe Inc. would become a wholly owned subsidiary of AccountNow Inc.

“We are very excited about the proposed acquisition of nFinanSe,” Jim Jones, CEO of AccountNow Inc., says in a news release. “We believe that combining our direct-to-consumer expertise and nFinanSe's knowledge of the retail store channel, we will become a truly integrated, multi-channel provider of GPR cards.”