Framingham Online News

Staples to Acquire PNI Digital Media

Filed under: Business by News Staff at 2:02 am on May 7, 2014
(photo) Headquarters of Staples, Inc.

Headquarters of Staples, Inc. located at 500 Staples Drive, Framingham, MA 01702 (USA)

FRAMINGHAM, MA - Staples, Inc. (NASDAQ:SPLS) and PNI Digital Media (TSX:PN) (OTCQB:PNDMF), a leading innovator in digital media solutions for retailers, today announced that they have reached an agreement for Staples to acquire PNI for approximately $67.8 Million USD.

PNI Digital Media's software platform is used to sell millions of personalized products every year including photo prints, photo books, calendars, business cards, documents, wedding invitations, stationery and much more. More than 30,000 retail locations are connected to the PNI Digital Media 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,” said Kyle Hall, Chief Executive Officer of PNI Digital Media. “With the support of Staples, we expect to significantly expand the services we offer for our retailers and partners.”

“PNI’s technology gives customers easy access to the best personalized products and related services.” said Damien Leigh, Senior Vice President, 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.”

PNI is expected to operate independently and provide improved service for both its customers and partners by leveraging the strength of Staples, one of the world’s largest internet retailers. PNI expects to continue growing its customer base with Staples’ support while maintaining the necessary resources to consistently meet its customers’ needs.

Financial details of deal and additional info can be found in Staples Investor Relations News Release. More info about PNI Digital Medial can be found at: www.pnimedia.com

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