Digital River announced that it has acquired the software services business of NetSales, which provides B2B and B2C e-commerce services for software publishers and software retailers. The acquisition of the NetSales' technology division further establishes Digital River's position as a provider of both B2B and B2C e-commerce services for software and digital content publishers.
Under the terms of the agreement, Digital River acquired NetSales' software services assets in exchange for 1,000,000 shares of common stock, with a contingent earnout for an additional 350,000 shares of common stock based on performance over the next 180 days. NetSales generated 1.3 million in net transaction revenue in 1999 with over 500 clients. All of the operations will be consolidated at Digital River.
Over the next 90 days, NetSales' clients will be transitioned to Digital River's commerce system and can immediately tap into the company's comprehensive e-commerce services.
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