As it continues investing in its E-Commerce enterprise, Staples Inc. has reached a deal to acquire Vancouver-based PNI for CDN$1.70, or US1.55, per share. PNI, which creates digital platforms retailers used to provide personalized products for consumers and businesses, announced the deal.
Products produced by PNI software run from photo prints and books to calendars to stationary. According to PNI, it’s customers include Office Depot, Wal-Mart, Costco, Tesco, Walgreens, CVS and Rite Aid.
PNI noted that the acquisition deal calls for it to operate independently and provide improved service for both its customers and partners by leveraging the strength of Staples Internet-based operations.
“PNI’s technology gives customers easy access to the best personalized products and related services,” Damien Leigh, senior vp, Staples Business Services, said in concert with the announcement. “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.”
Kyle Hall, PNI CEO, maintained, “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.”