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Adamas One Acquires Minority Equity Stake In Artificial Intelligence Solutions Provider Nexgenai Solutions Group, Inc.

May 31, 2023•over 2 years ago

Acquiring Company

Adamas One Corp.

Acquired Company

NexGenAI

GreenvilleJewelryPrecious MetalsManufacturingMachine LearningArtificial IntelligenceInformation TechnologySoftware

Description

Adamas One Corp. (Nasdaq: JEWL) (“Adamas One,” “Adamas” or the “Company”), The Original Lab-Grown Diamond CompanyTM, a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, Lab-Grown Diamonds for jewelry and diamond materials for industrial uses, today announces the acquisition of a 9.99 equity stake in NexGenAI Solutions Group, Inc. (“NexGenAI”), which, through its subsidiaries and affiliate entities, offers AI-driven solutions aimed at revolutionizing business operations across various sectors.

Company Information

Company

Adamas One Corp.

Location

411 UNIVERSITY RIDGE

Greenville, North Carolina, United States

About

Adamas is a lab-grown diamond manufacturer that produces near flawless single-crystal diamonds for gemstone and industrial applications, in its facilities in Greenville, South Carolina. The Company holds 36 patents and uses its proprietary chemical vapor deposition (CVD) to grow gem-sized and smaller diamond crystals. Adamas OneTM lab-grown diamonds have the same physical, chemical and optical properties as mined diamonds. The Company’s controlled manufacturing processes enables it to produce very high-quality, high-purity, single-crystal colorless, near colorless and fancy colored Type IIA diamonds to suit a variety of industrial and gemstone applications. The Company intends to market and sell its diamonds into the wholesale jewelry and industrial markets. For more information, visit www.adamasone.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed