Digital River and Philips Extend E-Commerce Agreements for Two Years
MINNEAPOLIS, Oct. 28, 2009 - Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, announced a two-year extension of its global e-commerce agreements with Philips Consumer Lifestyle, a division of Philips Electronics North America Corporation, and Philips Consumer Relations B.V. Based on the agreements, which run through 2011, Digital River will continue to manage global branded online stores for Philips' consumers, employees and business partners. The e-stores, located at http://www.philips.com, feature a wide selection of Philips' consumer lifestyle, lighting and medical device products. Philips has been a Digital River client since 2008.
Digital River's CEO, Joel Ronning commented, "We are committed to helping international consumer electronics companies like Philips integrate their global e-commerce sales strategies with existing retail, e-retail and resale distribution channels. We look forward to our continued partnership with Philips."
About Digital River, Inc.
Digital River, Inc., a leading provider of global e-commerce solutions, builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation. The company's comprehensive platform offers site development and hosting, order management, fraud management, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America. For more details about Digital River, visit the corporate Web site at www.digitalriver.com or call +1 952-253-1234.
Forward-looking Statement
In addition to the historical information contained herein, this press release contains forward-looking statements, such as statements containing the words, "will," "plans," "intends," "expects," and similar words. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others: the Company's operating history and variability of operating results; competition in the electronic commerce market; the ability of the Company to support the global online sales of Philips products; the market's acceptance of such offerings; and other risk factors referenced in the Company's public filings with the Securities and Exchange Commission.
Digital River is a registered trademark of Digital River, Inc. All other company and product names are trademarks, registrations or copyrights of their respective owners.
