Simpson Thacher is representing an investor group led by Siris Capital Group, LLC in connection with its acquisition of Digital River, Inc. (NASDAQ: DRIV) for $26.00 per share in an all-cash deal valued at approximately $840 million. The acquisition is expected to close during the first quarter of 2015 following a 45-day go-shop period, subject to customary closing conditions.
Digital River is recognized as a leading global provider of Commerce-as-a-Service solutions, providing companies of all sizes with e-commerce, payments and marketing services to manage and grow their online businesses. In 2013, Digital River processed more than $30 billion in online transactions, connecting business-to-business and business-to-consumer digital products and cloud service companies as well as branded manufacturers with buyers across multiple devices and channels, worldwide.
The Simpson Thacher team for the transaction includes Justin Yi, Robert Smith and Peter Boos (M&A); Jennifer Hobbs (Credit); Michael Naughton, John Goheen and William Kearney (Competition); Noah Metz (Tax); Tristan Brown and Leah Segall (Executive Compensation and Employee Benefits); Lori Lesser, Marcela Robledo and Michael Joshi (Intellectual Property); Michael Isby and Timothy Mulvihill (Environmental); and Abram Ellis and Nicholas Ridley (Regulatory).