1. Anthony Scaglione
What appears to be yet another failure for big retail to tackle managed services at scale was Channel Futures’ most-read story this week. ODP (Office Depot) is selling its CompuCom Systems subsidiary to an affiliate of Variant Equity in a transaction worth up to $305 million. That said, Office Depot acquired CompuCom for $1 billion in 2017. At the time, the acquisition highlighted Office Depot’s new strategic direction.
Anthony Scaglione is ODP’s chief financial officer. What was his spin regarding the new deal?
“This action represents an important step in continuing to align our business model and resources towards our core strategy. By enhancing our core focus, and leveraging our B2B assets and digital commerce platform, we are in an excellent position to maximize returns for our shareholders. We’re excited about completing this important step for our future and the increase in our share buyback authorization.”
Learn more from Forrester’s Jay McBain about his take on the acquisition.
