Staples closes deal for Canadian firm
Staples has completed its acquisition of a Canadian digital media firm that the Framingham-based office supplies retailer said would broaden its online offerings and functionality for its business customers.
In a statement, Staples said it acquired all shares of PNI Digital Media of Vancouver for $1.70 (Canadian) per share ($1.58 US). Staples said PNI’s stock will be delisted from the Toronto Stock Exchange and the OTC QB marketplace later this week.
When the transaction was announced in May, Staples estimated the purchase price of PNI at about $67.2 million.
It said many retailers have used PNI's software platform to sell personalized products, such as photo prints, photo books, calendars, business cards, documents, wedding invitations and stationery. PNI's customers include CVS/Caremark, Walgreens, Walmart and Costco. Staples said more than 30,000 retail locations are connected to the PNI platform, according to Staples.
WBJ Web Partners
Most Recent
Most Recent
0 Comments