Bricks Win Clicks

Kinko's buys out

VENTURA, CA  Janurary, 3, 2001  Kinko's, Inc. recently announced that it has acquired for an undisclosed price. The merger is said to complete the integration of Kinko's more than 1,100 digitally connected branches with and its Web-based print and ship service. was formed in March last year as a joint venture between Kinko's and, an online printing and marketing service. Together, they pooled approximately $40 million from their shareholders to capitalize the venture. Kinko's, which held a majority stake in, shared ownership of the company with investors including Chase Capital Partners; Clayton, Dubliner, & Rice; and Flatiron Partners.

The merger should not effect's products and services and the change is expected to be transparent to consumers. will be integrated into all aspects of the company including marketing, merchandising, new product development, strategic partner relationships and business development, said Joe Hardin, president and CEO of Kinko's, Inc. will experience some obvious workforce changes, however. The integration of products and services will result in the closing of the office in Alexandria, Virginia, and will impact up to 70 positions over the course of the first quarter 2001. Some key employees will be offered the opportunity to relocate and take positions at Kinko's headquarters in Ventura, California. All departing co-workers will receive competitive severance packages and outplacement support. Rick Steele, CEO of will stay on with the combined company through the transition period to help ensure a smooth integration.

We are committed to the ongoing expansion of the Kinko's brand in our branches and on the Internet to effectively serve our customers both online and offline, Hardin added. The merger will enable us to fully integrate and to leverage all our resources to extend and enhance our Web-based document solution services.