March 22, 2005
Digital River announces it has acquired SWReg, a provider of
e-commerce services for software authors.
Digital River acquired certain assets and assumed certain liabilities, vendor contracts and intellectual property of SWReg for $8.8 million in cash.
Digital River may make additional earn-out payments of cash based on achieving specific revenue and development goals over the first 12 months following the closing of this acquisition. This acquisition did not impact the company's first quarter 2005 revised financial expectations announced on March 17, 2005.
“This acquisition is a continuation of our strategy to extend our global footprint and expand our client base, software library and online sales network,” said Joel Ronning, CEO of Digital River. “Moving forward, we intend to capitalize on this strong foundation by offering our clients broader access to global online markets and new opportunities to drive online revenues and operational efficiencies.”
Digital River, Inc. builds and manages online businesses for more than 40,000 software publishers, manufacturers, distributors and online retailers.
Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation.
The company's comprehensive platform offers site development and hosting, order management, fraud prevention, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, Digital River is headquartered in Minneapolis,
with offices in major U.S. and European cities.
Source: Digital River, Inc.
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