US-based online fashion e-commerce site Fab.com has acquired Finland-based ready-to-assemble furniture company One Nordic Furniture.
Full details of the acquisition have not been disclosed but it is reported that deal is in the eight-figure range, and that One Nordic Furniture will take a 5% stake in Fab as part of the deal.
Fab has secured over $300m in investment since its angel round in January 2010. Investors include Japan-based trading conglomerate Itochu, telcommunications firm NTT’s corporate venturing arm NTT Docomo, and Singapor-based telecommunications company SingTel.
Jason Goldberg, cofounder and chief executive of Fab, said: “Teaming up with One Nordic adds incredible talent to our design bench and brings us ever-closer to our suppliers and manufacturers. We are excited about the design collaboration to come.”