Newport Beach-based Collectors Universe Inc. said Wednesday it plans to buy Canada’s Gemprint Corp. for $7.5 million.
Collectors also is set to pay shareholders of Toronto-based Gemprint $1 for each diamond registration over 100,000 for any one-year period during the five years following the closing of the deal.
Gemprint’s majority shareholder is Williamsville, N.Y.-based CVF Technologies Corp. The deal must be approved by two-thirds of Gemprint’s shareholders. A shareholder vote is set for Dec. 19.
Gemprint uses patented technology to identify diamonds using a non-invasive digital process. Collectors authenticates gems, trading cards and other collectibles.
Collectors plans to fold Gemprint into its Gem Certification & Appraisal Lab unit, which the company bought last month from the Palmieri Group Cos. as part of a $3 million acquisition.
