Staples Completes Acquisition of PNI Digital Media
FRAMINGHAM, Mass. & VANCOUVER, British Columbia--(BUSINESS WIRE)--Staples, Inc. (Nasdaq: SPLS) (“Staples”) and PNI Digital Media Inc. (TSX: PN) (OTCQB: PNDMF) (“PNI”) are pleased to announce that Staples has completed the previously announced acquisition of all of the issued and outstanding common shares of PNI for consideration of C$1.70 per share pursuant to a plan of arrangement under the Business Corporations Act (British Columbia).
The PNI common shares are expected to be delisted from the Toronto Stock Exchange (“TSX”) and the OTC QB marketplace on or about July 16, 2014. PNI also intends to submit applications and notices shortly, as applicable, to cease to be a reporting issuer, to voluntarily terminate the registration of the PNI common shares under the United States Securities Exchange Act of 1934, as amended, and to otherwise terminate its public reporting requirements as soon as possible.
Staples makes it easy to make more happen with more products and more ways to shop. Through its world-class retail, online and delivery capabilities, Staples lets customers shop however and whenever they want, whether it’s in-store, online or on mobile devices. Staples offers more products than ever, such as technology, facilities and breakroom supplies, furniture, safety supplies, medical supplies, and Copy and Print services. Headquartered outside of Boston, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. More information about Staples (SPLS) is available at www.staples.com.
About PNI Digital Media:
The world’s leading retailers rely on the PNI Digital Media Platform to sell millions of personalized products every year. The PNI Platform is a consumer-facing Platform-as-a-Service (“PaaS”) solution that is accessible online, from an in-store terminal, or from mobile devices and applications. The PNI Digital Media Platform connects consumer-ordered digital content, whether from online, in-store kiosks, or connected mobile devices and tablets with retailers that want to deploy proven omni-channel strategies and use on-demand manufacturing capabilities for the production of personalized products such as photos, photo books and calendars, business cards, greeting cards, wedding invitations, stationery and more. PNI Digital Media successfully generates millions of transactions each year for retailers and their thousands of locations worldwide. Further information on our company can be found at www.pnimedia.com.
The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties. PNI’s actual results could differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to changes in technology, employee retention, inability to deliver on contracts, failure of customers to continue marketing the online solution, competition, general economic conditions, foreign exchange and other risks detailed in PNI’s annual report and other filings. Additional information related to PNI can be found on SEDAR at www.sedar.com and on the SEC’S website at www.sec.gov/edgar.shtml. The information contained herein is subject to change without notice, and PNI does not undertake any obligation to publicly update or revise any forward-looking statements, except as required by law. PNI shall not be liable for technical or editorial errors or omissions contained herein.
PNI is a registered trademark of PNI Digital Media Inc. All other trademarks are property of their respective owners.