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Digital River Acquires SWReg.
2005-03-18, HostMan.biz E-commerce outsourcing provider Digital River (digitalriver.com) announced on Friday that it had acquired SWReg, a provider of e-commerce services for software authors. Under the agreement terms, Digital River acquired certain assets and assumed certain liabilities, vendor contracts and intellectual property of SWReg for $8.8 million in cash. Digital River says the agreement allows it to make additional earn-out payments of cash based on achieving specific revenue and development goals over the first 12 months following close of the acquisition. The company's first quarter 2005 revised financial expectations announced on Thursday were not affected. "This acquisition is a continuation of our strategy to extend our global footprint and expand our client base, software library and online sales network," says Digital River CEO Joel Ronning. "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." |
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