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THE BUSINESS JOURNAL I twincities.bizjournals.com 7
<br /> � ��its sights on Asian expansion
<br /> to
<br /> Element 5 business.
<br /> The company doesn't plan to stop with
<br /> nonth The
<br /> however. "We want access to a lot revamp Elk R
<br /> p more markets,"Ronning said.
<br /> 1, may ` �3 • � i;, The Asian/Pacific region is a natural next
<br /> � n step, and Ronning said he hoped to build BY SCOTT D.SMITH
<br /> wages Digital Rivers presence there this year. STAFF REPORTER
<br /> Topers ' • Such a move poses different challenges than The city of Elk River has reinstated
<br /> ed by a European expansion, however. Getting a MetroPlains Development as its choice to
<br /> lent 5, ' European presence was relatively simple:Buy revamp its downtown.
<br /> d in
<br /> the biggest competitor there. The city and the St.Paul-based developer.had
<br /> tii ;; "Element 5 was the most logical deal they a falling out when the Elk River Housing and
<br /> s cuszr could do; it was amini-Digital River," said Redevelopment Authority declined to renew
<br /> boost `a George Sutton,an analyst with Craig Hallam MetroPlains' development rights for two proj
<br /> mpor � g Capital in Minneapolis. "There really isn't ects with a combined value of about$20 million.
<br /> global "'''',4i-7:.%:, another opportunity like that out there." This week, after two years of negotiations,
<br /> pany's Digital River might seek out smaller acquisi- MetroPlains capitulated to the city's deman ds.
<br /> States, lion targets to help with Asian distribution,but Previously, MetroPlains wanted to start by
<br /> )igital there isn't a company with a similar business building 32 rental apartments and 10,000
<br /> model that would enable a quick entry square feet of retail on a city parking lot
<br /> ,"said through a buyout. known as the Jackson Block. However,
<br /> ant to Another issue is software piracy, which is MetroPlains resisted the city's request for an
<br /> glob- considered far more prevalent in markets such ironclad•commitment to develop the Bluff
<br /> as China and has made developers leery of sell- Block,which includes another 10,000 square
<br /> online ing downloadable applications there. feet of retail and 52 for sale housing units.
<br /> guard Digital River is addressing that aspect, as Vern Hanson, executive vice president of
<br /> PROVIDED BY DIGITAL RIVER INC. well. The company in recent months has Metroplains,said his firm decided to appease
<br /> is CEO Joel Ronning said Digital River unveiled a digital rights management service, city officials either by doing the for sale hous
<br /> coin- wants to access"a lot more markets:' called Software Passport,that adjusts software ing project first or by doing both projects
<br /> ck. prices based on the buyer's country.Software simultaneously.MetroPlains has not yet cho
<br /> 3oost- $31.9 million. sold in China, for example, would be priced sen a marketing team,but plans to start sell
<br /> The Ronning said the company's clients want to much lower to entice buyers who might other ing housing this summer and hopes to break
<br /> earn- ship globally,but don't want the hassle of dis- wise use a pirated copy. ground as soon as possible,Hanson said.
<br /> nount tributing physical products overseas. That
<br /> ent to opportunity was a big driver in getting the mreilly @bizjoumals.com 1(612)288-2110 ssmith@bi4numals.com 1(612)288-2107
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<br /> ' r %a rim& ,�,, ,,.+; ii t fte*e .,s "... ��. .•.„Si-;
<br /> 1iierger �z; jtaster-of Business Administration (M.B.A.)
<br /> C ce
<br /> sfl of Management Information Systems (M.M.1.S.)
<br /> ster of Public and Nonprofit Administration (M.P.N.A.)
<br /> ' '� / A
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