Mainboard-listed Sarin Technologies (U77:SI), the manufacturer of precision tools for the evaluation of diamonds and gems, says it has acquired the Light Performance Technology (LPT) from Overseas Diamonds Technologies NV (ODT).

The ODT LPT is a proven light performance system previously in use with several hundred retailers in the United States and Asia. The system enables the automatic, independent and accurate measurement of a polished diamond’s appearance by assessing its light performance characteristics like brilliance and symmetry.

The LPT system will enable Sarin to provide diamond retailers with an attractive sales tool that will simplify and enhance the consumer’s diamond jewellery-buying experience.

Under the terms of the transaction, Sarin will pay ODT US$650,000 ($849,810) in cash, with additional contingent consideration due in the form of royalties for a period up to 14 years, derived on a sliding scale from the actual future net revenues. 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.