Sarin Buys Overseas' Light Performance Technology

(IDEX Online News) - Sarin Technologies Ltd has acquired the Light Performance Technology “LPT) from Overseas Diamonds Technologies NV (ODT). Sarin will pay $650,000 in cash and royalties for a period up to 14 years based on future net revenues.

The LPT is a proven light performance system that was used by several hundred U.S. and the Far East retailers. The system enables the automatic, independent and accurate measurement of a polished diamond’s appearance by assessing its light performance characteristics: brilliance, fire, scintillation / sparkle and symmetry.

Sarin said about the purchase that the LPT system will enable it to provide diamond retailers with an attractive sales tool that will simplify and enhance the consumer’s diamond jewelry buying experience.

Upon completion of the diamond’s polishing, Sarin’s LPT will also provide the manufacturer with a verification report on its light performance parameters.

"The price and terms of the transaction were arrived at on a willing buyer and willing seller basis after extensively negotiating down the price proposed by the seller based on a valuation report commissioned by the seller from a Belgian risk control and finance management company in July 2009,"Sarin said in a statement.

The company expects to launch the new product line later in 2011S.