Boundless Network Acquires Image Evolution
October 29, 2009
Boundless Network (asi/143717) announced today that it acquired Ohio-based distributor Image Evolution (asi/122938). Financial terms of the deal were not disclosed, although Boundless says that the Image Evolution sales team, with more than $2 million in annual sales, will join Boundless Network as a result of the agreement. Chris Reynolds, who leads the Image Evolution team, will also be joining the Boundless organization.
"We are excited to welcome the Image Evolution team to the Boundless family," said Boundless Network CEO Jason Black. "We’re at the threshold of a huge shift in the promotional products industry, and experienced sales professionals like Chris Reynolds are quickly realizing they must have a distributor partner and platform that supports the growth of their business."
This is the 13th acquisition Boundless has completed since the beginning of 2008, and the company has grown from two to more than 130 salespeople within the past four years. The company was in the news earlier this month when it announced that its newly-hired CEO, Sherman Atkinson, had left the company. Black, the founder of Boundless Network, has now transitioned back to the role of CEO. In an interview with Counselor at the time, Black said Boundless Network’s annual revenues are $40 million.