Staples Acquires Office Technology Provider DEX Imaging
Staples has acquired DEX Imaging, a Tampa, Florida-based office technology provider. Financial terms were not disclosed.
Founded in 2002, DEX Imaging is a family-run company. President and CEO Dan Doyle Jr. and Chairman Dan Doyle Sr. will continue to lead the business along with the existing executive team, the company said.
DEX sells printers, copiers, and scanners, as well as document software. The company has also sponsored NASCAR driver Harrison Burton since 2013.
Staples Continues To Diversify
Speaking on the deal, Staples CEO Sandy Douglas said DEX has created strong relationships with their customers through their service and industry knowledge in office technology. He also hinted that similar acquisitions could be forthcoming.
“Staples will continue to strategically invest in companies that can bring added value to our customers in the form of enhanced products and services,” said Douglas.
The deal comes at a time where many office supply retailers are attempting to diversify their offerings.
Staples itself was acquired by private equity firm Sycamore Partners in 2017. The firm’s stated goal was to make the company, which is largely seen as an office retailer, less dependent on consumer foot traffic and more focused on B2B offerings.
Some critics have pointed to Staples’ attempts to serve various market segments with a “one size fits all” strategy as detrimental to the company’s bottom line. The strategy created opportunities for specialist retailers or other competitors like Amazon to cut into Staples’ market share.
M&A: Big Box Office Equipment Retailers
Staples and competitor Office Depot have been making a number of deals in recent years to shake up their offerings. Among those ChannelE2E has tracked:
- Sep 2018: Staples acquired Essendant Inc., a $5 billion office solutions provider that both completes and cooperates with Amazon Business.
- June 2018: Staples bought HiTouch Business Services, one of the largest independent office products dealers in the United States, for an undisclosed amount.
- Oct 2017: Office Depot acquired CompuCom for its managed IT services and IT consulting capabilities.
Oct 2017: Office Depot acquired Complete Office Solutions