|Staples Completes Claricom Purchase for $140 Million|
|WESTBOROUGH, Mass.--(BUSINESS WIRE)--March 4, 1999--Staples,
Inc. (NASDAQ:SPLS) today announced that it has completed the purchase
of Claricom Holdings, Inc. for approximately $140 million in an all
cash transaction. Staples first announced its intent to acquire
Claricom on December 17, 1998.
Claricom Holdings, Inc., of Milford, Conn., is an industry leader in providing innovative telecommunications products and services to businesses. Its 1998 revenues were about $200 million and the company has more than 1,200 employees in more than 60 sales locations nationwide.
Staples, Inc. is a $7 billion retailer of office supplies, furniture and technology to consumers and business from home-based businesses to Fortune 50 companies in the United States, Canada, the United Kingdom and Germany. Headquartered outside Boston, Staples invented the office superstore concept and today is the largest operator of office superstores in the world. The company has over 37,000 employees serving customers through more than 900 office superstores, mail order catalogs, e-commerce and a contract business. More information about the company is available at http://www.staples.com.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
Staples, Inc.'s business which are not historical facts are
"forward-looking statements" that involve risks and uncertainties. For
a discussion of such risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see "Risk Factors" in the Company's Annual Report or Form
10-K for the most recently ended fiscal year.
CONTACT: Staples, Inc. Shannon Lapierre Manager, Media Relations 508-370-8468