Sarine goes the diversification way to meet challenges!
Acquires a minority stake in Kitov.Ai for the gem & jewellery industry Sarine Technologies Ltd, wishes to update the public on its closing of its acquisition of a minority stake in Kitov.ai. The purpose of this investment is the diversification of Sarine's focus to additional industries, also considering the current challenges the diamond jewellery industry faces. Being a company engaged in technologies similar to those employed by Sarine, thus speaking the same language, Kitov.ai provides the Group with the means to diversify into new fields separate from the diamond industry. Kitov.ai has many industry-leading customers in many varied industries including aerospace, defense, electronics, medical devices, energy control, consumer products and others, in the U.S., Europe, the Far East and Israel. The concluded deal includes an initial cash investment of US$ 4.1 million in consideration of a just over 33% stake in Kitov.ai, paid in part t...