Sarine Technologies Ltd. has completed the acquisition of Gem Certification & Assurance Lab (GCAL), according to a statement released on 9th May. The acquisition creates synergies between Sarine’s advanced technologies and GCAL’s quality processes, paving the way for significant growth opportunities in the US and around the world.

The merged entity, GCAL USA LLC, will be led by GCAL’s experienced management team, which will retain a significant interest in the company as part of the deal.

The merger is expected to provide the US and other markets with a much-needed solution to their pressing concerns for fast, accurate, consistent, and efficient grading, along with optional provenance data, critical in these times of geopolitical unrest. By leveraging Sarine's advanced AI grading technology, the companies aim to extend their grading services worldwide.

Sarine will own 70% of GCAL USA LLC, for a total cash transaction price of US$5.65 million. Based on 2022 results, the merger is expected to increase the Group's profitability by some 7% on a proforma basis, not counting additional immediate cost savings of an estimated US$ 0.5 million per year and potential cost savings of up to an additional US$ 0.5 million per year.