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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Ross Levinsohn (former President of Fox Interactive) and Jonathan Miller (former Chairman and CEO of America Online) launched Velocity Investment Group earlier this year with the goal of acquiring and investing in digital media startups. Today they are announcing a merger with ComVentures, a venture fund with around $1 billion under management.

This sounds like a bit of a coup. The new entity is taking Velocity’s name and will be called Velocity Interactive Group. Two ComVentures partners – Michael Rolnick and Jeb Miller, will be “pursing other interests,” which is probably just a nice way of saying they were booted from the fund.

This is a rare move for a venture fund, and from what we hear ComVentures has been doing well in its investments. But a series of events, such as the FilmLoop debacle, may have left the brand somewhat tarnished. The fund was also ridiculed for stealing Sequoia’s web site look and feel.

A fresh start for ComVentures isn’t a bad idea, and getting talent like Levinsohn and Miller doesn’t hurt, either. The fund will be opening new offices in Santa Monica and New York, adding to existing offices in Palo Alto, India and China.

The fund is also announcing a few investments, including NDTV Networks, IndiaTV, Fabrik, Doppelganger and Mixercast.

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