Office Depot acquires officesupplies.com
Office Depot Inc., a leading seller of office products, has acquired officesupplies.com Inc.. The acquisition includes officesupplies.com customer base and the web site and the URL. Terms of the transaction were not disclosed.
“This business combination allows us to increase our market position and leverage our existing infrastructure,” said Bruce Nelson, Office Depot CEO. “We have high praise for the officesupplies.com management team and are pleased that they have agreed to join us during the transition period.”
Nelson said Office Depot will be seeking other acquisitions. “Our focus is on companies that target the business customer and are committed to fanatical customer service,” he said. “Given the highly competitive online environment, we believe we can offer smaller companies big opportunities to leverage Office Depot`s significant buying power and national distribution network.``
Officesupplies.com`s web site will remain operational during a 90-day transition period in which customers will have the opportunity to transfer their account information to Office Depot. Officesupplies.com was founded in February 1999.
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