Designer Ecommerce Hub Fab.com Goes Shopping, Acquires Indian Tech Partner True Sparrow Systems

view full story

http://techcrunch.com – Online designer shop Fab.com, which boasts some nine million users, is insourcing its Indian technology partner, True Sparrow Systems, by acquiring the company. The buy was reported in The Economic Times which described it as a cash and stock deal. The value of the deal was not disclosed. The paper notes it’s the first time a U.S. based ecommerce company has acquired an Indian technology startup. True Sparrow Systems announced the acquisition on its website, with founders Deepa Shah & Nishith Shah posting the following message We are proud to announce that Fab has acquired True S (IT news)