Snorrason Holdings to Acquire CCNow from Digital River

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Snorrason Holdings to Acquire CCNow from Digital River, Inc. in an all cash transaction.

CCNow has been a trusted online brand for more than a decade. Under Digital River's stewardship since 2002 it has reached new heights. We are honoured that Digital River has chosen to pass the baton to us.

Snorrason Holdings (snorrason.com), the privately-held e-commerce service provider, announced its intent to acquire CCNow, Inc., the online retailer and provider of online checkout services, from Digital River, Inc. in an all cash transaction. Other financial terms related to the transaction, which is expected to close before the end of 2012, were not disclosed.

"We are proud to continue the CCNow heritage, and intend to keep up the same standards of personal service and risk management with a human face that CCNow is known for," said Bjorn Snorrason, CEO of Snorrason Holdings.

"CCNow has been a trusted online brand for more than a decade. Under Digital River's stewardship since 2002 it has reached new heights. We are honoured that Digital River has chosen to pass the baton to us. We will live up to the trust they have placed in us, and the trust of the many online sellers and customers who rely on CCNow for their online transactions every day," continued Snorrason.

About Snorrason Holdings:

Snorrason Holdings ehf. is a privately held holding company with primary interests in online payment processing, including brands such as DalPay and MountPay. It maintains operating companies in Europe.

Snorrason Holdings was founded in 2003 by the Snorrason family of Dalvik in Iceland and remains headquartered in that town.

http://snorrason.com/about.html

http://www.dalpay.com
http://www.ccnow.com
http://www.mountpay.com

Twitter Tags: #ecommerce, #ccnow
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Contacts:

Snorrason Holdings ehf.
Media Contact:
Rakel Jonsdottir, +354 466 1940
(US direct dial 011 354 466 1940)
press(at)snorrason(dot)com

Digital River, Inc.
Media Contact:
Gerri Dyrek, +1 952-225-3719
Group Vice President, Corporate Communications
publicrelations(at)digitalriver(dot)com

or

Investor Relations Contact:
Ed Merritt, +1 952-225-3362
Vice President, Investor Relations
investorrelations(at)digitalriver(dot)com

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Rakel Jonsdottir
Snorrason Holdings ehf.
+354 466 1940 (US direct dial 011 354 466 1940)
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