POSaBit acquires Hypur’s marijuana e-commerce assets for up to $7.5 million

POSaBit Systems Corp. acquired marijuana e-commerce and compliance software assets from Hypur for as much as $7.5 million if certain benchmarks are hit.

According to a Monday news release, the cash-and-equity deal represents a “purchase price multiple” of 1.4 times Hypur’s 2022 revenue.

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The deal also is the second notable purchase this year by POSaBit, a cannabis payment-solutions company based in Kirkland, Washington.

In January, POSaBit paid $4 million in cash for the software business of Akerna Corp., cementing the Denver-based company’s exodus from the marijuana industry amid mounting headwinds.

The acquired assets of Scottsdale, Arizona-based Hypur, which last year generated about $5.3 million in revenue and $1.3 million in gross profits, include:

Hypur Pay, an ACH e-commerce and mobile payment solution. Hypur Comply, a compliance technology for financial institutions serving the cannabis industry. Hypur’s PIN debit merchant processing solution.

”This acquisition marks

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POSaBit Systems Corp. acquired marijuana e-commerce and compliance software assets from Hypur for as much as $7.5 million if certain… Continue reading
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