Digital River Agrees To Private Equity Sale
Digital River (DRIV) plans to take a walk from Wall Street. The provider of cloud e-commerce software agreed late Thursday to be acquired by an investor group led by Siris Capital Group for $840 million, or $26 a share. The price represents a premium of 50% over the company’s closing price Thursday and 67% over the company’s average share price over a 90-day period ending Thursday. Digital will become wholly-owned by an affiliate of Siris. The