Digital River Signs Agreement to Manage U.S. E-Commerce Sales for Panasonic’s VIERA Connect Market
MINNEAPOLIS — June 8, 2011 — Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, today announced it has signed an e-commerce agreement with Panasonic, a leader in connected TV entertainment. Based on the agreement, Digital River is managing U.S. e-commerce transactions for Panasonic’s VIERA Connectâ„¢ Market. The VIERA Connect Market offers consumers an interactive purchase experience inside Panasonic’s line of 2011 VIERA Connect-enabled VIERA® HDTVs and the ability to personalize their connected HDTV experience for their specific interests. Shoppers in the VIERA Connect Market can make purchases from an ever-growing catalog of hardware products, as well as free and paid apps from third-party developers.
“We wanted to bring the same interactive and engaging experience to the online purchase process that we bring to home entertainment — which is exactly what our VIERA Connect Market promises to deliver,” said Panasonic Corporation of North America vice president Merwan Mereby, who oversees the development of Panasonic’s rapidly expanding connected TV features and products. “Consumers will be able to do everything from buying apps and accessories to completing credit card transactions from the comfort of their couch right on their VIERA HDTV screen. We chose Digital River as our e-commerce provider because they could help us deliver a best-in-class online experience while mitigating our risk and increasing the revenue potential of our VIERA Connect Market. Digital River has a complete e-commerce infrastructure in place to handle orders and payments for reseller partners, and position Panasonic for future global expansion.”
“We are excited to take online shopping and e-commerce to the forefront in Web-based entertainment. This deployment represents the convergence of software and other digital content, games and consumer technology products — all areas of core competency for Digital River,” said Tom Donnelly, Digital River’s president and CFO. “Our work with Panasonic is a testament to our ability to create a completely seamless and connected shopping experience across multiple devices — whether that be a PC, mobile phone or now a TV. It’s what we call Transparent Commerce, where we enable a shopper to complete a highly personalized transaction from any device, anytime, anywhere in the world. This vision has become the driving force behind the continued expansion of our global e-commerce system and the integration of our social, mobile, app store and in-product purchase solutions.”
About Digital River, Inc.
Digital River, Inc., a leading provider of global e-commerce solutions, builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation. The company’s comprehensive platform offers site development and hosting, order management, fraud management, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America. For more details about Digital River, visit the corporate website, follow the company on Twitter or call +1 952-253-1234.
In addition to the historical information contained herein, this press release contains forward-looking statements, such as statements containing the words, “will,” “plans,” “intends,” “expects,” and similar words. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Digital River, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others: Digital River’s operating history and variability of operating results; competition in the electronic commerce market; the ability of Digital River to support e-commerce sales via Panasonic’s connected devices and market, and manage product fulfillment; the market’s acceptance of such offerings; and other risk factors referenced in Digital River’s public filings with the Securities and Exchange Commission.
Digital River is a registered trademark of Digital River, Inc. All other trademarks and registered trademarks are trademarks of their respective owners.
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