Sarine Technologies Ltd has announce the closing of the acquisition agreement between Sarine and the Gem Certification & Assurance Lab, Inc (GCAL).
The merger creates a robust synergy between Sarine’s leading technologies, and in particular its revolutionary AI-derived cloud-based on-site e-Grading™ system and verifiable data based Sarine Journey™ traceability paradigm, and GCAL’s strong brand in the US market and uncompromising quality control, backed by its industry-unique, consumer money-backed guarantee.
The newly merged entity, GCAL USA LLC, will be part of the Sarine group but willcontinue to be led and managed by GCAL’s experienced management team, which will retain a significant interest in the company as part of the deal. Sarine will own 70% of GCAL USA LLC shares. GCAL's existing customers will continue to receive GCAL’s grading and certification services uninterrupted.
In addition, U.S. (and worldwide) customers will be able to receive their guaranteed GCAL grading certificates not only for polished diamonds graded in the U.S. for specific programs, but also for the many diamonds processed through Sarine's growing installed base of grading systems in the various manufacturing hubs, that will enable grading and sorting on-siteat a fraction of the time and without the indirect costs of sending to a third party external gem lab, along with optional verifiable traceability data.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
The merger creates a robust synergy between Sarine’s leading technologies, and in particular its revolutionary AI-derived cloud-based on-site e-Grading™ system and verifiable data based Sarine Journey™ traceability paradigm, and GCAL’s strong brand in the US market and uncompromising quality control, backed by its industry-unique, consumer money-backed guarantee.
The newly merged entity, GCAL USA LLC, will be part of the Sarine group but willcontinue to be led and managed by GCAL’s experienced management team, which will retain a significant interest in the company as part of the deal. Sarine will own 70% of GCAL USA LLC shares. GCAL's existing customers will continue to receive GCAL’s grading and certification services uninterrupted.
In addition, U.S. (and worldwide) customers will be able to receive their guaranteed GCAL grading certificates not only for polished diamonds graded in the U.S. for specific programs, but also for the many diamonds processed through Sarine's growing installed base of grading systems in the various manufacturing hubs, that will enable grading and sorting on-siteat a fraction of the time and without the indirect costs of sending to a third party external gem lab, along with optional verifiable traceability data.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
