Digital River Inc. plans to become a private company. The company, which provides online shopping services to companies, said late Thursday that it has agreed to be bought by an investor group for about $840 million.
The investor group, led by private equity firm Siris Capital Group, is paying $26 per share in cash for Minneapolis-based Digital River.
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The deal is expected to close in the first quarter of 2015. Under the terms of the deal, Digital River may review other acquisition proposals during a 45 day period.
Shares of Digital River jumped 47.6 percent to $25.66 in premarket trading Friday.