Digital River Informed By Symantec That It Will Not Extend E-commerce Contract Beyond June 30, 2010 Expiration
MINNEAPOLIS, October 12, 2009 – Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, announced today that Symantec Corporation (NASDAQ: SYMC) has notified Digital River that Symantec will not extend its existing e-commerce agreement. The agreement, under which Digital River provides a variety of e-commerce-related services to Symantec, expires on June 30, 2010.
Symantec informed Digital River on Friday, October 9th that it expects to move all of the online traffic currently outsourced to Digital River to an internally developed Symantec e-commerce system before the current contract expires. Symantec has not yet informed Digital River regarding the timing of its migration plans or the nature of the support it will require from Digital River during the transition period.
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