Digital River Announces Sale of CCNow to Snorrason
Digital River, Inc. (NASDAQ: DRIV), the revenue growth experts in global cloud commerce, announced that it has sold its subsidiary CCNow, Inc. to Snorrason Holdings, a privately-held e-commerce service provider. CCNow is an online retailer and provider of online checkout services primarily for small to mid-sized businesses.
Snorrason purchased CCNow in an all cash transaction. Other financial terms related to the agreement were not disclosed and are not material to Digital River's results of operations.
Digital River will continue to provide global e-commerce and e-marketing services for small to mid-sized businesses through its MyCommerce^™ solution. With short click-through contracts, customizable set-up options, and key commerce capabilities, MyCommerce caters to merchants interested in a do-it-yourself commerce option that can have them selling online in a matter of hours rather than days.
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