Digital River will acquire Vanacouver-based LML Payment Systems in an all cash deal worth $103 million USD.

This amounts to Digital River (NASDAQ: DRIV) acquiring each LML share (NASDAQ: LMLP) for $3.45 each.

Both firms participate in the electronic payment processing industry where Digital River is a leader in servicing enterprise and mid-sized merchants and LML works with more than 14,000 small to mid-sized businesses.

The merged cooperation will now handle more than $20 billion in online transactions for tens of thousands of companies across a broad range of industries, including software, consumer electronics, government, utilities, event registration and mobile payments.

Expansion of the Digital River World Payments solution is a top priority as is extending LML Payment Systems’ white-label channel and mobile payment solutions worldwide.

Joel Ronning, Digital River’s CEO said: “Each company has a strong reputation in the online payments market, robust platform and deep expertise in card-not-present processing. Our joint technologies and expert resources will create even more value for our combined client bases – helping them reduce time to market and providing access to new payments technologies and geographies.”

Minneapolis, MN-headquartered Digital River started operations in 1994, and now has offices across the US, Asia, Europe and South America.

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