After years of poor performance including loss of a key client and poorly integrated acquisitions that didn't pan out, Digital River (DRIV) has jumped 55% since posting a 10-year low three months ago. Still down more than 2/3 from its all-time high several years ago, the stock has caught the attention of at least one prominent investor. With a recent CEO change, better times may be ahead, but the buyers appear to be too early.
DRIV is based in Minneapolis and was founded in 1994, with an IPO at $8.50 in August, 1998. The company was initially focused on serving software companies, acting as their end-to-end e-commerce solution. Symantec (SYMC) was its largest customer by...
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