Staples Acquires PNI Digital Media with Dollar Signs in its Eyes
FRAMINGHAM, MA: Staples, the office supplies retailer has acquired PNI Digital Media, a provider of personalization software for DN$1.70 per share, representing a net equity value of approximately CDN$73.9 million.
Staples with the help of PNI, which connects more than 30000 retail locations plans to sell millions of personalized products every year. Retailers now can utilize PNI's PaaS product online, through mobile devices or from in-store kiosks offering them a turnkey personalization service. The consumers can custom and photo prints, photo books, calendars, business cards, documents, wedding invitations and stationery.
"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. With the support of Staples, we expect to significantly expand the services we offer for our retailers and partners," said Kyle Hall, Chief Executive Officer of PNI Digital Media.
"PNI's technology gives customers easy access to the best personalized products and related 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." said Damien Leigh, Senior Vice President, Staples Business Services.
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