Core Insights - GigaCloud Technology Inc has completed the acquisition of New Classic Home Furnishings, enhancing its B2B technology solutions for large parcel merchandise [1][3] - The acquisition is valued at $18 million and aims to integrate New Classic's retailer network into GigaCloud's marketplace, creating new competitive opportunities for retailers [3] Company Overview - GigaCloud Technology Inc specializes in end-to-end B2B technology solutions for large parcel merchandise, operating a comprehensive ecommerce platform known as the "GigaCloud Marketplace" [4] - The marketplace connects manufacturers, primarily in Asia, with resellers in the U.S., Asia, and Europe, facilitating cross-border transactions [4] Acquisition Details - New Classic, a distributor in the home furnishings market, has over 1,000 retail customers and offers more than 2,000 SKUs, which will strengthen GigaCloud's ecosystem [2][3] - The acquisition was funded through GigaCloud's existing cash and was unanimously approved by the Board of Directors [3]