Frederick W. Smith

MEMPHIS, TN—Kinko's has long since shed its image as a copy center, as its recent acquisition by delivery stalwart FedEx completes its migration into a full business services provider. The $2.4 billion cash deal, reached as 2003 came to an end, is yet another example of the synergy craze as businesses continue to look for fiscal companionship in the face of continuing U.S. economic uncertainty despite signs of growth. "The FedEx and Kinko's combination will substantially increase our retail presence worldwide and will enable both companies to take advantage of growth opportunities in the fast-moving digital economy," notes Frederick W. Smith, chairman, president