Digital River Announces Agreement to be Acquired by Investor Group Led by Siris Capital Group for $26.00 per Share in Cash
Transaction Provides Significant Value for Shareholders and Strong Partner to Support Digital River’s Future Growth
MINNEAPOLIS-- Digital River, Inc. (DRIV), a leading global provider of Commerce-as-a-Service solutions, today announced that it has entered into a definitive merger agreement to be acquired by an investor group led by Siris Capital Group, LLC (collectively “Siris”) in a transaction valued at approximately $840 million.
Under the terms of the agreement, 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 percent over the closing price on October 23, 2014, and 67 percent over Digital River’s volume weighted average share price during the 90 days ended October 23, 2014. The agreement was approved by Digital River’s Board of Directors, which recommended that Digital River’s stockholders adopt the agreement with Siris.
- Published: 24 October 2014
- Written by Editor