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Digital River sells small biz online checkout unit

MINNEAPOLIS (AP) -- Digital River Inc., which provides online shopping services to companies, said Thursday that it has sold its CCNow division, which provides online checkout services to small- and mid-sized businesses.

And Iceland online commerce services provider, Snorrason Holdings, was the buyer. Financial terms of the cash deal were not disclosed.

Digital River said it doesn't expect the sale to affect its financial results.

The company, which is based in Minneapolis, said it will continue offering online shopping services for small and mid-sized businesses.

Digital River shares fell 14 cents, or 1 percent, to $14.64 in late afternoon trading.