As first reported in a Breaking News Alert this morning, Top 40 distributor firm Boundless Network (asi/143717) has entered into a definitive merger agreement for it to become a wholly-owned subsidiary of custom consumer products company Zazzle. Financial terms of the transaction were not released. Both companies said that there will be no immediate changes to how each one is operated, and Boundless will continue to operate as a separate entity. Jason Black, former CEO and co-founder of Boundless and a member of the Counselor Power 50, will now consult with the organization in an advisory role.
"Our alliance with Zazzle is a huge opportunity to leverage each other's strengths, allowing Boundless to unlock even more creativity and collaboration to benefit our clients,” said Henrik Johansson, the co-founder of Boundless who will continue to run the day-to-day operations of Boundless and has assumed the CEO role of the company following this deal.
For Zazzle, which has a listed distributorship in the industry with Zazzle.com (asi/365646), the deal marks a partnership for the company with a Top 40 firm and gives it more of a concentrated focus on customized products for businesses. "Zazzle is on a mission to give people everywhere the power to make anything imaginable,” said Robert Beaver, CEO and co-founder of Zazzle, “and this partnership with Boundless will only amplify our impact."
Boundless Network ranks as the 27th-largest distributor in the industry, after reporting 2013 North American ad specialty sales of $57 million, a 7.5% increase over 2012.