clock menu more-arrow no yes mobile

Filed under:

Digital River to Be Acquired by Investor Group for $840 Million

The company provides global e-commerce, payments and marketing services.

Stockyimages / Shutterstock

E-commerce services provider Digital River said on Thursday it had entered into an agreement to be acquired by an investor group led by Siris Capital Group for about $840 million.

The deal, valued at $26 per share in cash, is at a premium of almost 50 percent over Digital River’s Thursday’s closing price.

The agreement, approved by the board of Minnesota-based Digital River, includes a 45-day “go-shop” period during which the company can solicit alternative proposals, Digital River said on Thursday.

Siris will finance the deal with a combination of equity and debt, for which it has secured financing.

The companies expect the deal to close in the first quarter of 2015.

Morgan Stanley & Co acted as financial adviser to Digital River, while Macquarie Capital (USA), Union Square Advisors and Evercore Partners are financial advisers to Siris.

(Reporting by Kanika Sikka in Bangalore; Editing by Peter Cooney)

This article originally appeared on

Sign up for the newsletter Sign up for Vox Recommends

Get curated picks of the best Vox journalism to read, watch, and listen to every week, from our editors.