PNI Digital Media: Difference between revisions
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On July 11, 2014, the company was acquired by [[Staples, Inc]].<ref>http://www.reuters.com/article/2014/05/05/us-pni-digital-offer-staples-idUSBREA440I920140505</ref> |
On July 11, 2014, the company was acquired by [[Staples, Inc]].<ref>http://www.reuters.com/article/2014/05/05/us-pni-digital-offer-staples-idUSBREA440I920140505</ref> |
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==Suspected Security Breach and Downtime== |
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Based in Vancouver, Canada, PNI Digital Media was founded in 1995 as PhotoChannel, and went public on April 21st, 1997 . |
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Commencing July 14, 2015, the online photo centres for Walmart Canada, CVS, Costco, and Rite Aid, all operated by PNI, were probing credit card breaches.<ref>http://petapixel.com/2015/07/21/many-big-photo-printing-websites-now-offline-after-suspected-data-breach/ </ref> |
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==Financial and legal implications== |
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PNI’s business model is to provide a technology platform to allow its customers to create, transact and send customized product orders to the retailers’ production facilities. The technology that delivers this end to end service is generically known as the PNI Digital Media Platform. |
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During the period of downtime 13th through 28 July Staples Inc share price fell from $15.59 to $13.97, a 10% fall which reflected a reduction in Staples market value of almost $1bn.<ref>http://finance.yahoo.com/q/hp?s=SPLS&a=06&b=14&c=2015&d=06&e=28&f=2015&g=d</ref> It is unclear how much of this fall was related to the ongoing data breach. |
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Staples originally acquired PNI for CDN$73.9 million. It is unclear whether this acquisition means Staples or PNI are liable for compensation claims by retailers and any customers due to the two weeks of downtime, or whether PNI is technically a legally separate entity and hence provides a liability firewall for Staples.<ref>http://investor.staples.com/phoenix.zhtml?c=96244&p=irol-newsArticle&ID=1925849</ref> Staples have been reluctant to comment on the issue, and public statements imply PNI is separate operating entity.<ref>http://www.reuters.com/article/2015/07/20/cyberattack-retail-idUSL1N10028920150720</ref> Staples website [http://investor.staples.com/phoenix.zhtml?c=96244&p=irol-news makes no mention of the breach or multi-week downtime]. |
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On July 3rd, 2007, PNI Digital Media acquired Pixology, a publicly traded the Company based in the UK. Pixology offered similar services including online photo and digital print kiosk software. |
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On March 11th, 2009, PNI Digital Media announced the completed acquisition of Works Media Limited, a UK-based software company that provides retailers with kiosk and desktop software to create and order photo products such as photo books, calendars and other photo gift products. |
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Throughout the breach, multiple news agencies reported PNI were [http://www.geekwire.com/2015/costco-delays-online-photo-services-return-citing-ongoing-security-concerns/ uncontactable, despite multiple attempts to reach them for comment.] PNI did find time to launch a [http://www.pnimedia.com/ new-look corporate website] for PNI during the multi-week period of mass client downtime. The new website makes no mention of PNI's relationship with Staples - or indeed their actual legal identity. It also removes any reference to clients and press reports - it is very different to the previous PNI website in graphics, content and legal entity and financial info.<ref>{{Wayback|date=20150316012135|url=http://www.pnimedia.com/home/|title=PNI Digital Media}}</ref> |
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On July 11, 2014 PNI was acquired by Staples, Inc. PNI now operates as a division of Staples and has retained its customers. |
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In the summer of 2015, there were news reports of a potential security breach although the Company has not made any public statement. |
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<ref>{{cite web |
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|url=http://krebsonsecurity.com/2015/07/cvs-probes-card-breach-at-online-photo-unit/ |
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|title=CVS Probes Card Breach at Online Photo Unit |
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|publisher=Brian Krebs |work=[[Krebs on Security]]|accessdate=2015-07-17 }}</ref><ref name="Thomson-2015">{{cite web |
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|url=http://www.theregister.co.uk/2015/07/18/cvs_photo_hack/ |
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|title=CVS shutters photo website in credit-card hack attack scare |
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|work=[[The Register]] |
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|date=July 18, 2015 |
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|first=Iain |last=Thomson }}</ref><ref>http://www.ibtimes.co.uk/cvs-costco-walmart-canada-shut-down-online-photo-services-due-suspected-hacking-attack-1511409</ref> |
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==See also== |
==See also== |
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Revision as of 17:49, 24 August 2015
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| File:PNI Digital Media logo.png | |
| Company type | Public |
|---|---|
| TSX: PN | |
| Industry | online, kiosk and mobile software that enables retailers to offer personalized products |
| Founded | 1995 |
| Headquarters | , |
| Website | www |
PNI Digital Media (Photochannel Networks Inc) is a company that operates an on-demand photographic printing service. The company partners with retailers to place kiosks in their stores, and provide online services.
On July 11, 2014, the company was acquired by Staples, Inc.[1]
Suspected Security Breach and Downtime
Commencing July 14, 2015, the online photo centres for Walmart Canada, CVS, Costco, and Rite Aid, all operated by PNI, were probing credit card breaches.[2]
Financial and legal implications
During the period of downtime 13th through 28 July Staples Inc share price fell from $15.59 to $13.97, a 10% fall which reflected a reduction in Staples market value of almost $1bn.[3] It is unclear how much of this fall was related to the ongoing data breach.
Staples originally acquired PNI for CDN$73.9 million. It is unclear whether this acquisition means Staples or PNI are liable for compensation claims by retailers and any customers due to the two weeks of downtime, or whether PNI is technically a legally separate entity and hence provides a liability firewall for Staples.[4] Staples have been reluctant to comment on the issue, and public statements imply PNI is separate operating entity.[5] Staples website makes no mention of the breach or multi-week downtime.
Throughout the breach, multiple news agencies reported PNI were uncontactable, despite multiple attempts to reach them for comment. PNI did find time to launch a new-look corporate website for PNI during the multi-week period of mass client downtime. The new website makes no mention of PNI's relationship with Staples - or indeed their actual legal identity. It also removes any reference to clients and press reports - it is very different to the previous PNI website in graphics, content and legal entity and financial info.[6]
See also
References
- ^ http://www.reuters.com/article/2014/05/05/us-pni-digital-offer-staples-idUSBREA440I920140505
- ^ http://petapixel.com/2015/07/21/many-big-photo-printing-websites-now-offline-after-suspected-data-breach/
- ^ http://finance.yahoo.com/q/hp?s=SPLS&a=06&b=14&c=2015&d=06&e=28&f=2015&g=d
- ^ http://investor.staples.com/phoenix.zhtml?c=96244&p=irol-newsArticle&ID=1925849
- ^ http://www.reuters.com/article/2015/07/20/cyberattack-retail-idUSL1N10028920150720
- ^ Archived 2015-03-16 at the Wayback Machine
- ^ "CVS Probes Card Breach at Online Photo Unit". Krebs on Security. Brian Krebs. Retrieved 2015-07-17.
- ^ Thomson, Iain (July 18, 2015). "CVS shutters photo website in credit-card hack attack scare". The Register.
- ^ http://www.ibtimes.co.uk/cvs-costco-walmart-canada-shut-down-online-photo-services-due-suspected-hacking-attack-1511409