Online shopping services company Digital River to be taken private for $840 million

Associated Press

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.

Continue Reading Below

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.