US cannabis compliance technology company Akerna has signed an agreement to acquire cannabis business management system 365 Cannabis, built on Microsoft’s Dynamic 365 Business Central enterprise resource planning (ERP) system.
The deal, worth US$17 million, means 365 Cannabis’ 85-plus customers will gain access to Akerna’s compliance gateway and ecosystem, including its retail and analytics capabilities.
It will also allow Akerna to deliver ERP solutions for cannabis operators, and offer a financial and tax planning system for each stage of their growth, while maintaining regulatory compliance.
Akerna CEO Jessica Billingsley said: “By adding 365 Cannabis into our Akerna ecosystem, we will continue to create new standards and best practices around compliance in every state, province, and country across the globe, standardise how the global supply chain is managed, and forge best practices in technology and hosting.”
365 Cannabis CEO Jeff Kiehn added: “Our goal is to modernise and propel the cannabis industry throughout this rapid growth period and beyond.
“As we combine our leading solutions built specifically for the ever-evolving cannabis industry, along with Akerna’s 80+ integrations through open APIs, we can now offer cannabis operators a full suite of products to optimise their businesses, improve overall functionality, and ultimately increase sales.”
Cannabis 365 clients include Pharmacann, Nectar, Revolution, Sundial and Kiaro.