Staples has said that it will suspend its share buyback program for the next 18 months to two years due to the company's acquisition of Corporate Express N.V.

In a webcast of the William Blair 28th Annual Growth Stock Conference, Staples Chief Operating Officer Mike Miles said the program would be suspended to focus on integrating Corporate Express into its business and paying down debt from the deal.

As of Feb. 2, Staples had about $1.07 billion remaining under its share buyback authorization.