Digital River has announced that it has completed its acquisition of LML Payment Systems. Based in Vancouver, British Columbia, LML Payment Systems is a provider of electronic payment processing, risk management and authentication services
“We believe this acquisition will drive value for Digital River’s stockholders and the customers of our newly combined companies”
Collectively, the companies will handle more than USD20bn in global online transactions for tens of thousands of companies across a range of industries, including software, consumer electronics, government, utilities, event registration and mobile payments. The acquisition is expected to be accretive to Digital River’s earnings in its 2013 fiscal year.
Tom Donnelly, Digital River’s president and COO said, “The completion of this acquisition is another affirmation of our ongoing commitment to expand our payment services. We fully intend to leverage this acquisition to offer our combined client bases new capabilities and more revenue opportunities across a broader range of vertical and geographic markets.”
Souheil Badran, senior vice president and general manager for Digital River World Payments added, “With the addition of LML Payment Systems, our World Payments solution is in an even stronger position to lead in our industry.”
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