“Our goal has been to complete our ecosystem and become as self-sufficient as possible, and the acquisition of Flawless, one of the top cut[ters] and polishers in the industry, completes our ability to control our end-to-end production, speed of production, and time-to-marketing,” said Adamas CEO Jay Grdina in a statement.
Financial details were undisclosed.
In addition, Adamas has appointed media executive Peter Cohen as vice president of business development. He will focus initially on the use of lab-grown diamonds in the production of semiconductors for industrial and technology applications, and then on the company’s soon-to-be-launched Elle Jolie jewelry line. Cohen will report to Adamas chief operating officer Gerald McGuire, who has extensive experience in the semiconductor field.