Wednesday, May 15, 2013
PFSweb Gets $14.7M Investment
Allen, Texas-based PFSweb, the provider of e-commerce services to many major brands, said today that it has raised $14.7M in an equity investment. The investment came from Japanese digital marketing services and call center outsourcing company transcosmos. PFSweb, which is publicly held, said the deal calls for transcosmos (TCI) to acquire 3,214,369 shares of its common stock at a price of $4.57 per share, a premium to the company's closing price as of yesterday. The deal also calls for the companies to work together on a number of initiatives. PFSweb said it will use the cash for growth initiatives, domestic and global expansion, and potential investments and acquisitions. The investment comes several months after a big executive shakeup and layoff at PFSweb.