Dec. 17, 2014, 9:32 AM
- Digital River (NASDAQ:DRIV) has extended its digital download services agreement with top client Microsoft to March 31, 2017. Microsoft can extend the expiration date via four six-month renewal options.
- DRIV crashed on Dec. 8 after disclosing Microsoft had been given an extension for its deadline to give notice it wouldn't be extending the services deal. That triggered fears Microsoft would be jumping ship, and that DRIV's $26/share buyout agreement would be pulled in response.
- In today's disclosure, DRIV states the acquisition is still expected to close in Q1 2015.
Oct. 24, 2014, 5:12 AM
- Digital River (NASDAQ:DRIV) has entered into a definitive merger agreement to be acquired by an investor group led by Siris Capital in a transaction valued at approximately $840M.
- Under the terms of the deal, Siris will acquire all of the outstanding common shares of Digital River for $26.00 per share in cash, representing a premium of approximately 50% over yesterday's closing price.
- The agreement will also allow Digital River to solicit alternative acquisition proposals from third parties during a 45-day "go-shop" period, following the date of execution of the merger agreement.
- DRIV +15.1% premarket
Sep. 24, 2012, 4:35 PM
Digital River (DRIV +0.3%) is buying LML Payment Systems (LMLP +81.8%), a provider of online/mobile payment processing and risk management services for SMEs, for $3.45/share in cash, or $102.8M. Digital River, whose e-commerce software business has fallen on hard times, plans to integrate LML's solutions with its own payment processing service, which has historically focused on larger businesses. (PR)| Sep. 24, 2012, 4:35 PM