April 20, 2005 — (WEB HOST INDUSTRY REVIEW) — E-commerce hosting provider Digital River (digitalriver.com) said on Tuesday that its board of directors has authorized the re-purchase of up to $50 million of outstanding common shares.
The shares can be purchased in the open market or in privately negotiated transactions. Digital River has not set a time limit for the completion of the re-purchase plan.
The company says the plan supersedes and replaces the $5 million share buyback plan adopted in 2001.
Digital River is listed on the Nasdaq. The company currently has 34.2 million shares outstanding.
