Siris Capital Group is spending $840 million for e-commerce services provider Digital River (Nasdaq: DRIV).

The New York private equity firm led an investor group to ink the deal, which is valued at $26 per share in cash. While the sale agreement has been approved by the Digital River board, terms include a 45-day “go-shop” period in which the Minnetonka, Minnesota-based company can solicit alternative proposals.

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