Giant for the production of furniture and kitchen accessories Williams-Sonoma, Inc. (WSI) acquires a startup on the augmented reality of Outward. The deal is 112 million dollars. Mega-brand furniture, which operates stores such as Williams Sonoma, Pottery Barn, West Elm and others, will use 3D-processing technology to enhance and expand its customer service platform.
Outward, founded in 2012, works similarly to many other furniture visualization start-ups, capturing 3D information about partner products, and then allowing consumers to see what it is, how it looks, changing things such as the color or pattern of the object, checking it out every corner . The team experimented with such things as augmented reality and visualization.
The startup in San Jose, California, raised $ 11.5 million in venture capital investments over two rounds from Merus Capital, according to Crunchbase. After the merger, the company will function as a subsidiary of WSI and retain its current brand, while it will be headed by co-founder and CEO Clarence Chui. It is expected that the deal with cash will be closed at the end of this calendar year.
We recently reported that Broadcom is offering Qualcomm its acquisition at a price of $ 70 per share.