Staples is about to acquire Vancouver’s PNI Digital Media for $74 million, at a value of CDN$1.70 per share.
Large companies like Costco, Walmart, Sam’s Club and Office Depot use PNI Digital Media for personalized, on-demand products. Customers of Costco, for example, can create their own personalized cards and invitations, business printing solutions and online photo solutions using PNI Digital’s solutions. It’s platform also allows the big stores to access kiosk software solutions, mobile shopping experiences and platform metrics.
In essence, several of the world’s leading retailers rely use the Vancouver company’s software platform 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 CEO Kyle Hall. “With the support of Staples, we expect to significantly expand the services we offer for our retailers and partners.”
A release indicated that PNI is expected to operate independently. The company will “provide improved service for both its customers and partners by leveraging the strength of Staples.”
“PNI’s technology gives customers easy access to the best personalized products and related services.” said Damien Leigh, a senior VP within 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.”