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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.
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Tags:
DiaMining, imaging, Israel, M&A, mergers and acquisitions, Ramat Gan, Rapaport News, Sarine, Sarine Profile, Sarine Technologies, technology
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