Digital River, Inc. (Nasdaq: DRIV) picked up 0.47 to 3.06 Wednesday after thee-commerce service provider announced an agreement with Internet securitysoftware maker Symantec Corp. (Nasdaq: SYMC).
Digital River said it will manage worldwide sales and delivery of “bothdigital and physical products” purchased over Symantec’s Web site.
“Our partnership with Symantec illustrates our continued ability to globallyexpand recognized brands,” said Joel Ronning, chief executive officer ofMinneapolis, Minnesota-based Digital River. “Symantec will become one ofDigital River’s largest clients, and this represents a profitable relationship for both companies.”
Digital River said it will manage all e-commerce products available withinSymantec’s online store, including Norton Anti-Virus, Norton InternetSecurity and Norton System Works. Digital River will also facilitate thesale of multiple site licenses for Symantec’s business customers, andprovide customer service for Symantec’s worldwide operations.
The sites covered by the agreement are in the United States, Canada, LatinAmerica, Brazil, Germany, France, Italy, Netherlands, Sweden, the UnitedKingdom, the Middle East, South Africa, and the Asia-Pacific region. All thesites will launch simultaneously, and include localized language andcurrency.
Symantec will also use Digital River’s e-marketing services, includingtargeted e-mail campaigns, direct marketing and shopping-cart banners, tohelp it increase online sales.
Digital River reported third-quarter revenue of US$7.6 million, up from $4 million in the same quarter a year earlier. The company reported a net lossfor the quarter of $8.1 million, or 37 cents per share.
The company expects fourth-quarter revenue to be 25 to 30 percent abovethird-quarter levels, and a loss before extraordinary items of 21 cents pershare.