Fabrik Acquires G-Technology, Expect 2008 Revenues of $200+ million

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VC 2.0 over in Europe? It barely began.

Fabrik, a storage hardware and service provider, announced today that they’ve acquired G-Technology for an undisclosed amount. G Technology sells external drives that focus on high performance for rich media. Their products are focused on Mac users (thus the announcement today in conjunction with Macworld). G-Technology is also releasing a couple of new products today, including a 1 TB mini Raid USB drive that is bus powered.

G-Technology was founded by Roger Mabon four years ago and is self funded. This is Fabrik’s third acquisition (previously Filmloop and SimpleTech). We’ve been hard on the company in the past (see our coverage of the Filmloop acquisition and CrunchGear’s coverage of MyFabrik), but to be fair the company is executing like crazy. They are on a $200 million revenue run rate for 2008, says CEO Mike Cordono, and are profitable after raising around $50 million in capital. 90% or revenues are from the U.S., so there is lots of room for international expansion. Cordono isn’t talking IPO yet, but it’s clear they are on track for a public offering or a very large acquisition. Cordono says they won’t raise more capital for now, unless its for further acquisitions.

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