PCH, the billion-euro tech manufacturing specialist run by Cork businessman Liam Casey, has bought the US-based e-commece website Fab.com for an undisclosed sum of cash and equity.
The deal is part of Casey's plan to ramp up distribution and retail operations for his business, which is one of the largest outsourced manufacturing specialists in the technology industry and has major operations and logistics facilities in Shenzhen. China.
PCH has offices in San Francisco, Cork and China and recorded revenue of over $1bn in 2014. It manufacturers machinery and gadgets on demand for startups and some of the world's biggest technology brands, including Apple.
"We are delighted to announce the acquisition of Fab,” said Mr Casey. “We love the brand, the customer experience, and the focus on lifestyle products. We see an opportunity to reinvigorate the Fab audience, keeping the current focus and adding a variety of more distinct and exclusive goods from designers.”
Casey said that the ecommerce site's 35 employees – including engineers, merchants, graphic designers and marketers – will remain with the company. He said that Fab founder and former chief executive Jason Goldberg has stepped down and will not be involved with the business going forward.