Staples buys Canadian firm for $67M
Office supplies retailer Staples of Framingham said it will buy a Canadian digital media firm that helps retailers. The purchase price for PNI Digital Media of Vancouver, British Columbia is estimated at about $67.2 million.
Staples, seeking to boost its online presence while cutting down on its physical retail space, said the acquisition of PNI will help the world’s leading office products firm broaden its online offerings and functionality for its business customers.
“PNI’s technology gives customers easy access to the best personalized products and related services.” Damien Leigh, senior vice president of Staples Business Services, said in a statement.
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.
“For years, our retailer partners have used our online, in-store kiosk software and mobile apps to successfully drive millions of orders and in-store visits,” Kyle Hall, CEO at PNI, said in the Staples statement. “With the support of Staples, we expect to significantly expand the services we offer for our retailers and partners.”
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