Staples Completes Acquisition of PNI Digital Media
Staples Inc., Framingham, Mass., announced its completion of the acquisition of PNI Digital Media (PNI), Vancouver, British Columbia, Canada that was announced in May. The agreed upon cash transaction was $1.70 a share, which is approximately $73.9 million in Canadian dollars, or approximately $1.58 a share and $68.8 million total in U.S. currency.
PNI is a leading innovator in digital media solutions for more than 30,000 retailers, selling millions of personalized products each year.
“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,” said Kyle Hall, PNI's CEO. “With the support of Staples, we expect to significantly expand the services we offer for our retailers and partners.”
PNI will continue to operate independently while utilizing Staples' support.
“PNI’s technology gives customers easy access to the best personalized products and related services.” said Damien Leigh, senior vice president of Staples Business Services. “As a part of Staples, we expect PNI to continue to innovate on an open platform and share their innovations with both their current customers and with Staples’ Business Services division.”