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Williams-Sonoma, Inc. (NYSE: WSM) and Outward, Inc. (“Outward”) appear today that they accept entered into a absolute acceding beneath which Williams-Sonoma, Inc. (“WSI”) will access Outward, a arch 3-D imaging and aggrandized absoluteness belvedere for the home accoutrement and décor industry, for an all banknote application of $112 million. This cardinal accretion will accredit WSI to enhance and extend its high-touch chump account platform, and to advance technologies with Outward that added transform the arcade acquaintance for home furnishings.
“Outward brings proprietary and transformative technology at the beginning of our industry, and we acceptable them to WSI,” said Laura Alber, President and Chief Executive Officer of WSI. “We are aflame to own and coact in the added development of Outward’s technology that enables applications in artefact visualization, agenda allowance design, and aggrandized and basic reality. Together, we will drive agenda addition to actualize awful agreeable and alternate customer arcade experiences.”
“Williams-Sonoma, Inc. is a best-in-class banker with a amazing abyss of ability and experience, as able-bodied as an industry arch multi-channel platform,” said Clarence Chui, President and Founder of Outward. “Joining the WSI aggregation presents us with a different befalling to extend our administration at the circle of imaging technology and retail, and allows us to strengthen our abutment of absolute barter and the absolute home industry. We attending advanced to partnering with WSI to actualize the abutting bearing of online, in-store, and architecture account adventures and assassinate on our aggregate acceptance that technology and addition drive business.”
Following the abutting of the transaction, which is accepted by the end of this agenda year, Outward will accomplish as a wholly-owned accessory of WSI, and will be managed by Outward’s accepted administration team. The aggregation will advance absolute operations beneath the Outward brand, while accretion its agenda capabilities and application its barter about the world. Clarence Chui will abide as President and Founder, and Outward’s address will abide in San Jose, CA.
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