De Beers Group of Companies has acquired a 33.4 percent equity stake in Synova, a manufacturer of laser cutting equipment
Synova S.A. announced that the De Beers Group of Companies has acquired a 33.4 percent equity stake in Synova.
The new partnership underlines Synova’s commitment to the diamond industry. It will strengthen the company and provide solid ground for Synova’s other core business units (semiconductors and metal machining).
Synova is the owner and supplier of the patent protected water jet guided Laser MicroJet (LMJ) technology. Customers are benefitting from Synova’s unique expertise as an industrial micro-machining solutions provider; leveraging a knowledge base across multiple industries that have a common need for high precision and expanded hardware/software capabilities.
Synova will work with De Beers to develop a fully automated cutting and shaping solution, with LMJ at its core. The unique technology achieves higher yields, reduces the risk of breakage, and generates higher productivity due to faster cutting time and easier processing.
Dr. Bernold Richerzhagen, CEO of Synova S.A., said: “The new partnership with a major market player like De Beers will not only help ensure Synova’s long-term growth, it will also provide Synova with a unique opportunity to further improve market penetration of the LMJ technology in the diamond processing industry worldwide and to be close to the business.”
HPE Growth Capital had invested in Synova in September 2011.
About Synova S.A.
Synova S.A., founded in 1997 and located in Ecublens near Lausanne, Switzerland, manufactures leading-edge laser cutting equipment based on the water jet guided laser technology. Its principal advantages of a long working distance and very efficient cooling, pave the way for a considerable amount of new applications in the domain of sensitive material processing. Synova presently has 75 employees including 35 engineers who primarily concentrate on the research of revolutionary material cutting processes, new applications and laser cutting equipment. For further information about Synova S.A., visit http://www.synova.ch.
About The De Beers Group of Companies
De Beers is a member of the Anglo American group. Established in 1888, De Beers is the world’s leading diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people (directly and as contractors) across the diamond pipeline, and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. For further information about De Beers, visit http://www.debeersgroup.com.
Source: Synova Press Release