Digital River Buys Journey Education Marketing
Eden Prairie-based Digital River, Inc., announced Tuesday that it has acquired Journey Education Marketing, Inc. (JourneyEd)-a reseller of software and hard goods for students, faculty, educational institutions, and public school districts.
Digital River acquired Dallas-based JourneyEd through an all-cash transaction and expects the acquisition to be accretive to earnings in 2011.
Other financial terms related to the transaction were not disclosed.
JourneyEd specializes in the K-12 and post-secondary academic markets in the United States.
It owns, markets, and operates two brands in the education market-JourneyEd and Academic Superstore.
The JourneyEd and Academic Superstore brands manage academic e-stores that sell popular software titles and other education-related goods, including computer hardware and accessories, books, and backpacks.
“The addition of JourneyEd's academic distribution channels to our established network of retail, affiliate, and channel partners will enable us to create natural cross-sell opportunities for our software, consumer electronics, and game clients,” Joel Ronning, Digital River's CEO, said in a statement.
Digital River is among Minnesota's 55-largest public companies based on revenue, which totaled about $404 million in 2009.