News :: Go Back ::
Digital River Acquires Beyond.com Property
MINNEAPOLIS, March 31, 2002--Digital River, Inc. (NASDAQ: DRIV), an e-commerce outsource provider, today announced that it has closed its previously announced acquisition of certain assets and related liabilities of Beyond.com Corporation.
As a result of the closing, Digital River increased its full year 2002 revenue guidance to $72 to $75 million. Additionally, the company announced that it expects earnings per share for 2002, prior to the amortization of acquisition-related expenses and the previously announced first quarter charges, to be i$0.23 - $0.25.
"This acquisition is a valuable addition to the Digital River platform," said Joel Ronning, Digital River's CEO. "It is squarely targeted at a market in which we have built critical mass and established Digital River as a leader in e-commerce outsourcing. Our penetration into this market and our ability to help our software clients grow their e-businesses is a direct testimony to the successful outsourcing model that we have built. We plan to continue to leverage this model in pursuing software publishers that are not currently outsourcing as well as other verticals, including manufacturing and distribution."
Beyond.com declared Chapter 11 bankruptcy in January of this year and is seeking to sell its remaining assets.
:: Go Back ::