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Gigacloud Technology Inc Completes Acquisition Of Noble House

Nov 01, 2023•about 2 years ago

Acquiring Company

GigaCloud Technology

Acquired Company

Noble House Home Furnishings, LLC

City Of IndustryLos AngelesMarketplaceE Commerce

Description

GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it has completed the previously announced asset acquisition of Noble House Home Furnishings LLC (“Noble House”), a leading B2B distributor of indoor and outdoor home furnishings, for approximately $85 million, subject to customary purchase price adjustments. The acquisition is funded entirely with cash on hand.

Company Information

Company

GigaCloud Technology

Location

City Of Industry, California, United States

About

GigaCloud Technology Inc is a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise. The Company’s B2B ecommerce platform, which it refers to as the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. The Company offers a truly comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories such as home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed