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December 30, 2003

FedEx buys Kinkos

CNet News:

FedEx announced Tuesday that it would acquire Net-savvy business-services company Kinko's in a $2.4 billion cash deal.

Kinko's, which offers a range of Internet services from online printing to Wi-Fi access, will provide FedEx a leg up in electronic document delivery, said Jess Bunn, a FedEx spokesman.

"For years, FedEx was in the physical delivery of documents, but now we are moving into the electronic delivery of documents," said Bunn. "Kinko's receives electronic documents, and prints them out. The logical extension is to have them delivered by FedEx."

One ironic thing about this is that FedEx is legendary for moving heaven and earth to provide great customer service, yet over the past few years many people have observed that Kinko's staffers can hardly be bothered.

Posted by jghiii at December 30, 2003 08:03 PM
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