Global e-commerce services provider Digital River has completed the acquisition of LML Payment Systems, a provider of financial payment processing services for e-commerce and traditional businesses.
Digital River has acquired indirect ownership of 28,246,684 common shares of LML Payment Systems, representing 100 percent of the issued and outstanding common shares of LML Payment Systems. The acquisition was approved at a meeting of LML Payment Systems shareholders on January 7, 2013, and was formally completed on January 10, 2013, following satisfaction of applicable regulatory requirements.
The acquisition is expected to be accretive to Digital River’s earnings in its 2013 fiscal year. In recent news, Digital River has sold its online checkout services provider CCNow Inc. to Snorrason Holdings, a privately-owned e-commerce service provider.
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