Digital River, the ecommerce specialist, is buying British online software store SWreg for $8.8m. There is a chance of further payments if revenue and development targets are met.

SWreg claims to be the world's oldest online store. It was founded by Steve Lee in 1986 and has been profitable ever since. It sells software from independent developers as well as larger firms. Financials for the year ended 31 December 2003, the most recent available on its website, show the firm turned over £21.5m and made a profit after tax of £452,000.

SWreg founder Steve Lee was one of the leading lights of early shareware development.

Digital River press release here. ®

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