Fab acquires its tech provider True Sparrow Systems

One of the fastest-growing e-retail sites in the world, New York based Fab.com, acquired its partnering technology providing startup, Pune-based True Sparrow Systems. Fab.com explains it as a move to make itself a long-term sustainable business, and for this, include the technology team is a part of the company.

For the past two years, True Sparrow Systems has been providing technology for Fab. True Sparrow system's co-founder Nishith Shah is also the chief technology officer of the US company. True Sparrow worked exclusively with Fab, and until recently, the two were functioning as separate entities.

In 2008, Goldberg teamed up with Nishith and Deepa Shah, the couple that runs True Sparrow. They launched a social news service Social Median, which was acquired by Germany's professional social network Xing.

Two years later, True Sparrow became a technology partner to Goldberg's venture Fabulis, a social network for the gay community. A year later, when the network did not find enough users, he changed Fabulis to Fab and the partnership with True Sparrow continued. Now, Fab.com is focused on selling designer products and one of the fastest growing online retailers in the U.S market.

This acquisition is being counted as one of the rare deals in which an American e-commerce has acquired an Indian technology firm. Another such deal was the acquisition of SoSasta by Groupon in 2011.