Staples To Acquire PNI Digital Media

Massachusetts-based Staples, Inc., the parent company of Counselor Top 40 distributor Staples Promotional Products (asi/120601), has reached an agreement to purchase PNI Digital Media for $74 million Canadian ($67.5 million). Through its software platform, PNI Digital Media sells millions of personalized products like photo books, calendars, business cards and invitations.

“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 innovations with both their current customers and with Staples’ Business Services division.”

The transaction still must be approved by PNI shareholders and the Supreme Court of British Columbia.