Office Depot and OfficeMax to Merge

Pretty soon, two Mountain View retailers will become one.

Office Depot announced Wednesday plans to acquire OfficeMax for $1.19 billion, Time magazine reports.

"In the past decade, with the growth of the internet, our industry has changed dramatically," said Neil Austrian, Chairman and Chief Executive Officer of Office Depot. "Combining our two companies will enhance our ability to serve customers around the world, offer new opportunities for our employees, make us a more attractive partner to our vendors, and increase stockholder value."

The merger of the two office-supply stores creates greater competition for Staples, which holds the number one position in their industry. Office Depot and OfficeMax ranked Nos. 2 and 3 respectively.

However, their real competition continues to be online retailers like Amazon and Costco, reports Forbes magazine and posits whether Staples or Office Depot/OfficeMax even need brick and mortar stores.

Time Magazine also notes that the Federal Trade Commission still needs to approve the merger, though history shows that in 1997 the FTC denied a merger between Staples and Office Depot. But since the market has changed, perhaps the FTC would let it move forward.

Mountain View Patch has reached out to both Office Depot and OfficeMax about what will happen to the two-large storefronts and their employees. Patch will update the community when more information becomes available.

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