Funding & Expansion
On June 7, 2011, the company announced that it had raised a new round of funding of $30 million. Two new investors (Northbrooks Investments and J. Christopher Burch) participated in the round alongside existing investors Norwest Venture Partners, Triangle Peak Partners, Cross Creek Capital, and Fung Capital.
On June 16, 2011, the company announced the acquisition of TNS Distribution, a European distributor of consumer electronics products and accessories. The consideration included an immediate payment of €6m (US$8.67m) with an earnings-based payment of €5m (US$7.22m) over 3 years, based on the performance of TNS Distribution.
On June 15, 2012, the company announced the expansion of its product development and engineering services in the US market with the agreement to acquire Lime Lab Inc., a Silicon Valley-based product development consultancy.
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