Deluxe Acquires PSPrint
Monday, August 01, 2011
Press release from the issuing company
St. Paul, MN – Deluxe Corporation announced today that it has acquired the net operating assets of PSPrint LLC, an Oakland, California-based provider of online printing services, including custom graphic design, direct mailing list creation and direct mail fulfillment.
"The PSPrint acquisition accelerates our web-to-print growth efforts and aligns with a key focus area of our strategy, growing our service offerings to small businesses," said Malcolm McRoberts, senior vice president, small business services at Deluxe. "This is a great opportunity for us to leverage our recent investments in the web-to-print space with the established systems and processes at PSPrint. The result will be a best-in-class workflow technology for small businesses, including PSPrint's loyal and established customer base. Web-to-print is a growing market segment and a natural extension for our products and services."
Deluxe purchased PSPrint for $45 million in cash. The acquisition is expected to generate an incremental $15 million in revenue for the remainder of 2011 and be neutral to Diluted EPS after including transaction costs and acquisition-related amortization expense.
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