Williams-Sonoma has signed an agreement to acquire Outward, a 3D imaging and augmented reality platform for the home furnishings and décor industry, for an all cash price of $112 million.
The acquisition will enable William-Sonoma to enhance and extend its high-touch customer service platform and to develop technologies with Outward that can further transform the home furnishings shopping experience.
“Outward brings proprietary and transformative technology at the forefront of our industry, and we welcome them to WSI,” said Laura Alber, Williams-Sonoma president and CEO. “We are excited to own and collaborate in the further development of Outward’s technology that enables applications in product visualization, digital room design, and augmented and virtual reality. Together, we will drive digital innovation to create highly engaging and interactive consumer shopping experiences.”
Following the close of the transaction, which is expected by the end of this calendar year, Outward will operate as a wholly-owned subsidiary of WSI, and will be managed by Outward’s current leadership team. The company will maintain existing operations under the Outward brand, while expanding its digital capabilities and servicing its customers. Clarence Chui will remain as president and founder, and Outward’s headquarters will remain in San Jose, CA.