St. Paul, Minn. – July 28, 2011 – Deluxe Corporation (NYSE: DLX) 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.
About Deluxe Corporation
Deluxe is a growth engine for small businesses and financial institutions. Four million small business customers access Deluxe’s wide range of products and services including customized checks and forms as well as web-site development and hosting, search engine marketing, logo design and business networking. For financial institutions, Deluxe offers industry-leading programs in checks, customer acquisition, regulatory compliance, fraud prevention and profitability. Deluxe is also a leading printer of checks and accessories sold directly to consumers. For more information, visit www.deluxe.com. (Cherry Tree does not maintain, endorse, or make any representations as to the content accuracy or quality of this website.)
Cherry Tree and Associates advised Deluxe as part of this transaction