Digital River Agrees To Acquire Assets

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Digital River plans to acquire the eStores and government systems group of

The sale is subject to court approval since is filing for Chapter 11 bankruptcy protection. If approved, Digital River said, it will pay $3.5 million in cash and $7.5 million in common stock for the assets and customer contracts related to's eStores and government systems group.

The number of customer contracts was not disclosed.

Under the terms of the agreement, Digital River will not assume liabilities of other than obligations under the customer contracts.

Digital River has a history of acquiring the assets of faltering e-commerce services companies and companies with complimentary service offerings. The addition of would expand Digital River's presence in the government sector.

Earlier this month, Digital River made its ninth acquisition with the purchase of's customers.

The e-commerce ASP paid $875,000 in cash for 3,000 subscription customers of Network Commerce subsidiary The acquisition brought Digital River's customer base to 13,000 SMB and enterprise businesses.

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