Sarin Technologies acquires Galatea

28 Apr '08

2 min read

The cash consideration will be funded by internal resources as well as proceeds from the Group's IPO. Upon and subject to the achievement of certain annual sales targets, the Vendors shall be entitled to receive additional payments during a 4-year sales period from additional sales of the product, revenue generated from operations of the product in Sarin's service centers as well as the potential future application of the technology to polished diamond evaluation.

“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 Mr. Zeev Leshem, Chief Executive Officer of the Group.

“With this ground-breaking technology, Sarin will again revolutionize the current rough diamond analysis methodologies and tools, as the industry has come to expect of us over the past two decades,” he added.

The Acquisition is expected to be accretive to the earnings and growth of the Group in the medium term.

Sarin Technologies Ltd

More Sarin Technologies Ltd. News... More Information Technology News - Singapore...