The rumored acquisition of Donruss by Italian-based Panini became fact last week, with the official announcement by Panini that it had completed and finalized the deal.

That still leaves plenty of questions among dealers and collectors about exactly what this deal means in terms of product offering and how the Panini corporate name, unfamiliar to many hobbyists in this country, will be married with the very familiar Donruss, Playoff and Leaf brand names that come with the acquisition.

Panini’s official announcement of the acquisition did little to offer insight into that question, but it did suggest that most of the staff currently on board at Donruss will be retained for the time being.

“There is considerable talent within the 50-plus strong Donruss team and a fine legacy from which we can grow the product category and attract new collectors,” Panini said in its statement. “Our priority now is to integrate the team, supplement it where necessary with the extra help required to manage the enlarged business and complete the work already started on the development of our enlarged publishing program.”

While most of the staff is staying, owner Ann Powell is leaving to pursue another business interest. “My plans involve focusing my energies on a company I started a few years ago called BibleQuest,” Powell said. “Its mission is one that is dear to my heart: communicating the truth of the Bible and the love of God to children.” Powell said she will remain available as a consultant to Panini’s management team, and she is confident the company’s legacy is in good hands. “Panini is committed to the trading card industry and will bring a new and exciting energy to what we all love so much. The gifted and experienced Donruss team that has developed, produced and marketed our cards will continue to do just that.”

Since the acquisition includes Donruss’ NFL licenses, the debut of Panini’s first U.S. card product will now come with the arrival of Playoff Prestige Football, which is released in early May. The company’s first NBA products are still scheduled to arrive in October.

The irony of the acquisition is that hobbyists had wondered for several years about the possibility of Donruss becoming a basketball card licensee. Now, there will be Donruss basketball cards, being produced by another licensee. The league said the purchase will help Panini’s transition into the U.S. card market. “Panini’s acquisition of Donruss provides them with an immediate infrastructure and creates business efficiencies for their North American operations,” Sal LaRocca, the league’s executive vice president of global merchandising, told CNBC.com. “We look forward to working closely with Panini on the 2009-10 NBA trading card products.”