PFSweb

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PFSweb, Inc.
Company typePublic
Nasdaq: PFSW (1999-2023)
Industry
Founded1994
FounderMark C. Layton
Headquarters
Irving, Texas
,
United States
Number of locations
12
Area served
Worldwide
Key people
Zach Thomann
Number of employees
1001-5000
ParentGXO Logistics
WebsitePFSCommerce.com
PFSweb office

PFSweb, Inc. (Priority Fulfillment Services) is an eCommerce fulfillment and logistics 3PL service provider for business-to-business (B2B) and direct-to-consumer (DTC) companies.[1] PFSweb was acquired by GXO Logistics in an all-cash deal worth approximately $181 million in 2023. The company was founded in 1994. Its corporate headquarters were relocated from Allen, Texas to Irving, Texas in 2022.

History[edit]

PFSweb, Inc. was founded in 1994 as Priority Fulfillment Services, Inc. (PFS)[2] by Texas-based Daisytek International Corporation. The company first specialized in running call centers for clients and then expanded to provide electronic-commerce sales and order processing, product warehousing, packaging, and fulfillment services.[3][4] The company formed a European division, PFSweb Europe, and 10 employees working at a call and fulfillment center in Maastricht, Netherlands, and expanded its operations to include a centralized European fulfillment center in Liège, Belgium.[5][6]

In 1999, PFSweb was spun off from Daisytek as a separately operated, publicly traded company.[7][8] Mark C. Layton, previously president and CEO of Daisytek, became chairman, president, and chief executive of PFSweb.[9][10]

In February 2002, the company began offering customized manufacturing and supplier inventory services.[citation needed]

In 2006, PFSweb named Michael Willoughby as the President of the company.[11] In February of that year, PFSweb completed the all-stock purchase of eCOST.com Inc.[12] Under the merger, the online discount retailer became a subsidiary of PFSweb.[12]

In early 2008, PFSweb formed a partnership with Demandware to expand in the e-commerce technology market. PFSweb integrated the technology with its existing services, allowing it to enter into the marketplace of End-to-End (E2E) suppliers with End2End eCommerce solution.[citation needed]

In February 2011, it was announced that PFSweb completed the sale of eCOST.com to PC Mall, Inc. for $2.3 million.[13] In addition, PFSweb contracted with PC Mall to provide a variety of eCommerce services, including IT and customer care to eCOST.com operations on a temporary basis.[13] In 2011, the company also formed a partnership with Shopatron to create an omni-channel commerce solution.[14]

In 2013, PFSweb announced a leadership change as Mike Willoughby replaced Mark Layton as CEO of the company.[15] That year, PFSweb formed a relationship with the Japanese company transcosmos, Inc. (TCI).[16]

The company expanded internationally in 2015 by opening offices in Germany and the U.K. as well as expanding operations in Bangalore, India.[17] In 2018, the company expanded its U.K. operation with a new logistics center.[18]

In September 2023, PFSweb was acquired by GXO Logistics for approximately $181 million.[19]

Services[edit]

PFSweb is an eCommerce fulfillment and logistics 3PL service provider.[20] Services offered by the company include:

  • Fraud protection and payment[19]
  • Customer care & Call center services[19]

References[edit]

  1. ^ PFSweb Inc. | Reuters.com Archived 2016-03-04 at the Wayback Machine Retrieved February 08, 2010.
  2. ^ O'Brien, Mike (2023-09-15). "GXO Logistics Acquires PFSweb for $181 Million". Multichannel Merchant. Retrieved 2024-03-06.
  3. ^ Reporter, Staff (September 22, 1999). "Daisytek International Makes Plans To Spin Off Unit, Will Take Charges". WSJ. Retrieved 2024-03-01.
  4. ^ Woodie, Alex (2004-05-11). "PFSweb Launches E-Commerce App for iSeries Shops". IT Jungle. Retrieved 2024-03-01.
  5. ^ "Raytheon Aircraft Parts Inventory and Distribution (RAPID) | Aero-News Network". www.aero-news.net. Retrieved 2024-03-08.
  6. ^ "Major jobs boost for Southampton as logistics firm announces move to city". Daily Echo. 2018-11-02. Retrieved 2024-03-08.
  7. ^ "Daisytek Gets IRS Nod for 400,000-SF Buy". GlobeSt. Retrieved 2024-03-26.
  8. ^ "Daisytek to acquire distribution centre from PFSweb - Channel Info". www.channelinfo.net. Retrieved 2024-03-26.
  9. ^ Reporter, Staff. "Daisytek International Makes PlansTo Spin Off Unit, Will Take Charges". WSJ. Retrieved 2024-03-26.
  10. ^ Hicks, Ed (September 1, 2004). "CEO Layton: Memphis must respond to change". www.bizjournals.com. Retrieved 2024-03-26.
  11. ^ PFSweb Inc. | Reuters.com Archived 2016-03-03 at the Wayback Machine Retrieved February 08, 2010.
  12. ^ a b "PFSweb completes merger with eCost.com". www.bizjournals.com. Feb 1, 2006. Retrieved 2024-03-15.
  13. ^ a b Brohan, Mark (2011-02-22). "PC Mall acquires the assets of web retailer eCost.com". Digital Commerce 360. Retrieved 2024-03-12.
  14. ^ PFSweb Launches Omnichannel Commerce Tool | InternetRetailer.com Retrieved November 21, 2012.
  15. ^ MarketScreener (2013-03-27). "PFSweb Inc. Announces Management Changes -March 26, 2013 at 09:00 pm EDT | MarketScreener". www.marketscreener.com. Retrieved 2024-03-26.
  16. ^ PFSweb Announces Strategic Relationship with transcosmos and Receives $14.7 Million Equity Investment | businesswire.com Retrieved May 15, 2013
  17. ^ "PFSweb Opens Two Additional European Sales Offices". Yahoo Finance. 2014-11-19. Retrieved 2024-03-26.
  18. ^ "Major jobs boost for Southampton as logistics firm announces move to city". Daily Echo. 2018-11-02. Retrieved 2024-03-26.
  19. ^ a b c Solomon, Mark (2023-09-14). "GXO acquires luxury goods fulfillment provider PFSweb". FreightWaves. Retrieved 2024-03-20.
  20. ^ a b O'Brien, Mike (2023-09-15). "GXO Logistics Acquires PFSweb for $181 Million". Multichannel Merchant. Retrieved 2024-03-20.

External links[edit]

Wikimedia Commons has media related to PFSweb.
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