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Sarine Buys Diamond App Maker

May 31, 2016 3:53 AM   By Rapaport News
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RAPAPORT... Sarine Technologies has acquired DiaMining, a developer of apps that produce digital imagery of diamonds, gemstones and jewelry. The deal was valued at $1.2 million and encompasses DiaMining’s technology and assets.

Ramat Gan-based DiaMining offers point-of-sale products that display still and video imagery which integrates with inventory management systems. The company’s apps enable sellers to showcase their inventory in a store, in the back office or while still at a supplier. The apps can also create ‘virtual inventory’ by allowing users to link a jewelry setting from one supplier to a diamond held in another supplier’s inventory. Companies can therefore ‘pre-sell’ jewelry and later acquire the necessary components, thus reducing inventory costs.

Sarine expects the acquisition will extend the reach of its ‘Sarine Profile’ sales platform in the diamond and jewelry wholesale and retail segments.

“Sarine's acquisition of DiaMining's assets will enable us to better support our customers at their actual points of sale, and to accelerate the Sarine Profile’s adoption as an integral part of the diamond or gemstone jewelry sales process,” said Uzi Levami, Sarine’s chief executive officer.
Image: Sarine CEO Uzi Levami (right) with CFO Bill Kessler (center) and DiaMining CEO and co-founder Amir Ben Zion
Tags: DiaMining, imaging, Israel, M&A, mergers and acquisitions, Ramat Gan, Rapaport News, Sarine, Sarine Profile, Sarine Technologies, technology
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