US-based kitchenwares and home furnishings retailer Williams-Sonoma (WSI) has signed an agreement to acquire 3D imaging and augmented reality platform Outward for $112m.
Through the acquisition, WSI intends to enhance and extend its high-touch customer service platform.
Williams-Sonoma president and CEO Laura Alber said: “Outward brings proprietary and transformative technology at the forefront of our industry, and we welcome them to WSI.
“We are excited to own and collaborate in the further development of Outward’s technology that enables applications in product visualisation, digital room design, and augmented and virtual reality.
“Together, we will drive digital innovation to create highly engaging and interactive consumer shopping experiences.”
Once the transaction is closed, Outward will operate as a wholly-owned subsidiary of WSI. The existing leadership team of Outward will continue to manage the company.
Outward president and founder Clarence Chui said: “Joining the WSI team presents us with a unique opportunity to extend our leadership at the intersection of imaging technology and retail, and allows us to strengthen our support of existing customers and the entire home industry.
“We look forward to partnering with WSI to create the next generation of online, in-store, and design service experiences and execute on our shared belief that technology and innovation drive business.”