Williams-Sonoma to Buy 3-D Imaging Company
Williams-Sonoma Inc. (WSI) has struck a deal to buy Outward, a 3-D imaging and augmented reality platform for the home furnishings and décor industry, for $112 million.
This strategic acquisition will enable WSI, which brands include Williams Sonoma Home and Pottery Barn, to enhance and extend its high-touch customer service platform, and to develop technologies with Outward that further transform the shopping experience for home furnishings.
“Outward brings proprietary and transformative technology at the forefront of our industry…,” said Laura Alber, 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.”
The transaction is expected by the end of this calendar year. Outward, based in San Jose, Calif., will operate as a wholly-owned subsidiary of WSI, and will be managed by Outward’s current leadership team.