In its second-largest acquisition, Amazon buys the company for $970 million.
Therman Wheeler will oversee product strategy for the e-commerce services provider.
Digital River Inc., a provider of e-commerce services primarily to software and digital content companies, has beefed up its online payments arm with the hiring of a former Microsoft Corp. executive. Therman Wheeler becomes vice president of global product for Digital River World Payments. In his new job he will oversee strategy and planning for products sold through the World Payments unit.
Before joining Digital River, Wheeler spent seven years at Microsoft, where he worked as director of business development and oversaw the company’s global product and payments strategy. Microsoft is No. 68 in the Internet Retailer Top 500 Guide.
“Digital River has essentially written the book on global e-commerce for 15 years,” Wheeler says. “In this new role, I have the opportunity to help shape our global payments strategies, drive new revenue, and write the next chapter in building businesses for online merchants worldwide.”
Wheeler also was vice president of strategic development for payment processor Citi Merchant Services, where he was responsible for developing its global acquiring platform, Digital River says. Therman also has worked at American Express Co. and manufacturer W.L. Gore & Associates, which makes products from polymers.
“Payments continue to be an integral component of the e-commerce and m-commerce ecosystem,” says Souheil Badran, senior vice president and general manager of Digital River World Payments. “With well over a decade of global payments work with companies like Microsoft, Therman will play a pivotal role in helping us fuel future strategic development efforts for our payments solution.”