Digital River to Support Panasonic’s VIERA Connect Market Expansion into over 20 European Locales
MINNEAPOLIS — Nov. 17, 2011 — Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, announced it has extended its U.S. e-commerce agreement with Panasonic, a leader in connected TV entertainment. Based on the new agreement, Digital River is supporting purchases made via the VIERA Connectâ„¢ Market in 27 European countries, including Austria, Belgium, Estonia, France, Germany, Greece, Ireland, Italy, Spain, Sweden and the Netherlands and the UK. Using their remote controls, owners of VIERA Connect-enabled VIERA® HDTVs can personalize their connected HDTV experience with free and paid third-party apps acquired through Panasonic’s online catalog. In some countries, consumers will also have the opportunity to order hardware products from the catalog.
“The VIERA Connect Market takes home entertainment to the next level as consumers can add premium applications, including videos, music, social networks, games and more, to their televisions,” stated Fabien Roth, general manager of consumer TV at Panasonic Europe. “Combined with Digital River’s extensive experience handling cross-border orders and payments, consumers can be assured that our marketplace will offer leading technology and online shopping best practices trusted across Europe.”
“With the dramatic growth of Internet-enabled devices, consumers have become super connected,” said Tom Donnelly, Digital River’s president and chief operations officer. “People expect to be able to connect to the Internet when they want, where they want and through the device of their choice — including their televisions. Powered by Digital River’s commerce solution, Panasonic’s global VIERA Connect Market, will provide users a seamless and easy-to-use e-store shopping experience that allows them to make a purchase from the comfort of their homes.”
The online marketing and sales of digital and physical products across international borders is being supported by the Digital River® Global Commerceâ„¢ cloud-based enterprise solution. This comprehensive solution offers a wide-range of e-commerce features, including localization, fraud screening, and digital and physical fulfillment. The Digital River Global Commerce solution also handles local regulations, such as taxes, privacy issues, export laws, currency exchanges and recycling fees.
About Panasonic
Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.69 trillion yen (€79 billion) for the year ended March 31, 2011. The company’s shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE: PC) stock exchanges. For more information on the company and the Panasonic brand, visit the company’s website at http://panasonic.net/.
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, call +1 952-253-1234, or follow the company on Twitter.
Forward-looking Statement
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 for Panasonic; 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 company and product names are trademarks, registrations or copyrights of their respective owners.
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