Sarin
Technologies has
announced the acquisition of a 100% stake in Galatea, an Israeli company which
deals in the development of innovative technology for automated evaluation of
the internal features of rough and polished diamonds. The acquisition cost
$10.77 million.
At present there is no such cost effective system in existence for the
evaluation of diamonds’ internal features. The new technology will
significantly improve the actual yield of rough diamonds. The commercialization
of the new technology is expected both to increase the
Group’s revenue through the expansion of its product range and boost the sale
of the company’s existing planning products.
“The
unique and innovative technology developed by Galatea executes internal scanning
and mapping faster and is less costly compared to other technologies previously
assessed and tested by Sarin. We expect the benefits of this acquisition to
materialize over the next 12 months,” said Sarin’s
CEO
Zeev
Leshem.
MUMBAI: India, which is facing a shortage of rough diamonds, has sought
uninterrupted supply of the same mainly from the African market.
