The acquisition agreement between Sarine Technologies Ltd. and the Gem Certification & Assurance Lab, Inc. (GCAL) has been finalised. Sarine Technologies Ltd. is a global leader in the development, manufacturing, marketing, and sale of precision technology products for the evaluation, planning, processing, measurement, grading, and trading of diamonds and gems.
The combination of GCAL‘s strong brand in the US market and unwavering quality control, supported by its industry-unique, customer money-backed guarantee, and Sarine’s cutting-edge technologies, particularly its revolutionary AI-derived cloud-based on-site e-GradingTM system and verifiable data-based Sarine JourneyTM traceability paradigm, creates a powerful synergy. The newly combined firm, GCAL USA LLC, will be a part of the Sarine group but continue to be run and managed by the skilled management team of GCAL, which will keep a sizable stake in the business as part of the transaction.
The grading and certification services provided by GCAL to its current clients will continue uninterrupted. Additionally, customers in the United States (as well as other countries) will be able to obtain their guaranteed GCAL grading certificates for polished diamonds graded in the United States for specific programmes, as well as for the numerous diamonds processed through Sarine‘s expanding installed base of grading systems in the various manufacturing hubs. This will enable grading and sorting on-site at a fraction of the time and without the indirect costs of sending to a third party external gem lab, along with other benefits.
“I am thrilled by the opportunities created by this merger,” said David Block, CEO of Sarine. Primarily because we have discovered a partner who upholds our principles of excellence, reliability, consistency, openness, and customer centricity. Second, I firmly believe that the combination will give the American and other markets a much-needed answer to their urgent needs for quick, precise, consistent, and efficient grading, as well as optional provenance data, which is essential in these times of geopolitical upheaval.
‘I have absolute confidence in GCAL’s founders’ commitment to these common principles, whom I welcome into the Sarine family, and in the leadership they will continue to provide to our joint endeavor in the years to come” , he added.