Staples is going to pay more than $4 billion for the company’s 4K monitors, the company announced Tuesday.
The Staples Group Inc. said in a news release that it would pay $9.8 billion for its “SuperViews” series of monitors, including the “UltraViews.”
It would then lease the technology to a “premier technology company.”
Staples said it would lease the monitors to other retailers, including Amazon and Best Buy, over the next three years.
Staples has previously said it will buy 4K video monitors for the Staples store.
The deal, which was first reported by The Wall Street Journal, comes after a yearlong period of uncertainty about the viability of the technology.
The companies announced in February that the company was considering a bid to buy a controlling stake in UltraViews, which it has also valued at $1.8B.
The deal is expected to close in the first quarter of 2019.
Staples is looking to acquire the remaining UltraView devices, including a 4K monitor from Luxeon Corp., the company said.
Staples also has a $5.4 billion deal with Dell Inc. for 4K display technology.
Staples said Tuesday that the Staples deal would be the first in a series of investments by the company.
Staples shares fell 1.8% to $54.55 on the New York Stock Exchange.
The 4K devices have become a hot commodity among retailers.
Dell has invested in a $1 billion deal to build a manufacturing plant for the SuperViews and a $8 billion deal for Luxeon to develop its own 4K technology.
Luxeon will also develop a monitor that will compete with Staples’ UltraView display, according to the Staples announcement.
Staples’ SuperView line includes a $200 model and $500 models.
The SuperView 4K line will be available in a variety of models, including standard and high-end.
Staples announced the new products last month, saying that it is the first time it would sell the product directly.
It said the deal is the result of an extensive, multi-year investment by the Staples Group and the Luxeon Group.
The latest news comes as 4K content has become a major selling point for consumers in the digital era.
The industry is expected hit $100 billion in annual revenue in the next two years, according the Wall Street Group.