Polygon Network Bought by Canada’s Mediagrif

Canada’s Mediagrif Interactive Technologies Inc has bought PolyGroup, Ltd, owner of the Polygon Network, a veteran diamond and jewelry business-to-business marketplace.

Polygon was launched in 1984 and its main feature is CertNet, which has the largest collection of polished diamonds in the world, totaling over $1.6 billion at wholesale value.

The gems are offered by more than 500 diamond dealers, including many DTC Sightholders.

Mediagrif, a publicly traded company, operates over a dozen e-businesses including Broker Forum, Power Source On-Line, Telecom Finders and Global Wine & Spirits.

PolyGroup also owns Brandmatrix, which provides online co-op marketing technologies for jewelry industry brands; TradeLock, a password-protection system for jewelry industry websites, and WebActive, a website design business.

Mediagrif reportedly paid $8.4 million in cash for PolyGroup.

Jacques Voorhees, who founded Polygon and will continue as its President and CEO said, “As part of Mediagrif, Polygon will now be able to provide its members with sophisticated e-commerce technology and services”.