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Right you are, ELEMENT5 is an e-commerce service offered by Digital River since 1998. Digital River is a US e-commerce outsourcing company which has been in business since 1994. They also acquired SWREG, another online payment processing company, in 2005.
I have seen all this at the bottom of Avast’s software checkout page, but it is in small print at the bottom of the page and you have to scroll down to see it. Most people have never learned to read the whole web page before clicking on “Accept”.