Home / Knowledge / News / Information Technology / Sarin buys 23% equity of IDEX Online
Sarin buys 23% equity of IDEX Online
24
Jan '08
Sarin Technologies, a world leader in supplying technological tools to the diamond industry, announced that it has acquired a 23% equity interest in IDEX Online for a total amount of US$3.4 million, of which US$0.5 has already been advanced as a loan, an additional US$1.0 million will be paid immediately, and US$1.9 million will be paid by June 2009, if IDEX achieves certain business development milestones.

Founded in 2000, IDEX Online is an internationally-recognized operator of a B2B polished diamond traders' network, a web portal for news, analyses and polished diamond price indexes and publisher of a leading trade magazine.

According to the agreement, Sarin Technologies will invest $3.4 million in IDEX Online and will have an option to increase its investment up to an additional US$3.0 million in the future.

“As online diamond trading emerges as a serious way of doing business in the ever-changing diamond industry, Sarin, now celebrating its 20th anniversary, sees IDEX Online as an important strategic investment”, noted Zeev Leshem, Sarin Technologies CEO.

“Just as Sarin changed the way diamonds are manufactured and traded in the past, IDEX Online is now well positioned to bring innovative trading tools to our industry.

We see exciting possibilities which may develop around the online trading business,” concluded Leshem.

Abraham Stern, IDEX Online CEO commented that, “IDEX Online has received industry-wide recognition and significantly growing acceptance in recent years.

The investment by an industry heavyweight like Sarin will enable IDEX Online to continue to grow by enhancing our technological infrastructure and strengthening our presence in key markets.

We are delighted to welcome Sarin as a partner in IDEX Online at such an exciting time for the company and the industry.”

Sarin Technologies Ltd


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search