FedEx to Acquire Kinko's, Expand Global Presence

FedEx Corp. acquired Kinko's for $2.4 billion to expand its global presence. The transaction is expected to close in the first calendar quarter of the year 2004. This acquisition will help diversify the FedEx revenue base, driving better value for their shareholders. The Kinko's intend to leverage the many strengths that FedEx brings which includes its brand, network, financial resources, sales and marketing expertise to further enhance their industry-leading model for corporate document and outsourcing solutions.