Digital River Acquires Commerce5

Digital River has acquired Aliso Viejo-based Commerce5, a provider of e-commerce software and services for the manufacturing and consumer electronics market. Digital River will pay approximately $45M in cash, including the payment of $12.6M in liabilities. Digital River will also establish an equity incentive plan for Commerce5 executives. Commerce5 will become a wholly-owned subsidiary of Digital River. Commerce5 was previously known as Channelwave Software, which was sold in February to Click Commerce and renamed Commerce5. Channelwave Software itself was a result of an earlier merger in December of 2003 of Aqueduct, a spinoff, and Channelwave Software. Commerce5's e-commerce system provides a product catalog with integrated distribution and logistics partners such as Ingram Micro and Tech Data, ERP systems, and financial applications.