Digital River charts new e-commerce course

E-commerce solutions provider Digital River said it agreed to be acquired by an investor group led by Siris Capital Group in a deal valued at $840 million.



Under the terms of the agreement, Siris will acquire all of the outstanding common shares of Digital River for $26 a share, a 50% premium over the company’s closing price on Oct. 23.



“We are pleased to have reached this agreement with Siris, which provides significant value to our shareholders and represents a clear endorsement of our transformation strategy, our industry leading ecommerce and payments solutions, our 1,300 global experts and our deep commitment to clients,” said David Dobson, Digital River’s CEO. “We believe that this transaction will provide Digital River with the flexibility to innovate and execute our vision of setting the standard for global ecommerce technology and services. Siris has extensive industry expertise, and working with Siris, Digital River will continue to create even more compelling ways to deliver ecommerce excellence and customer growth.”



Upon the anticipated closing of the deal in the first quarter of 2015 Digital River will become wholly owned by an affiliate of Siris.



“With 20 years of global ecommerce expertise, Digital River has a leading market position and significant global growth potential in the Commerce-as-a-Service market,” said Dan Moloney, Siris Capital executive partner. “We are excited to work with the talented employees to build on the company’s success as a global leader in ecommerce, payments and marketing services. We look forward to supporting Digital River as it continues to serve its world-class client base while exploring new opportunities to drive innovation and global growth.”