Florida based Office Depot Inc has completed its acquisition, for US $940 million, of IT services business CompuCom via which it will support a bundled subscription service under the MyBizBox banner for business start-ups. Recently appointed CEO Gerry Smith has said that the future for Office Depot, after its thwarted takeover by Staples, lies with the provision of services rather than its much reduced store estate.
The business achieved sales of US $2.6 billion in its third quarter, to September 30th which was down by 8 per cent over the same period last year. Sales had been hit by the hurricanes which affected 220 of its stores
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