POSaBit won’t match higher bid for Akerna’s marijuana software business

Akerna Corp. backed out of an agreement to sell its marijuana software businesses for $4 million to POSaBit Systems Corp. after a new bidder emerged.

POSaBit, which offers payment solutions to the cannabis industry, was notified Friday that Akerna terminated the deal after a third-party proposal for the acquired companies is likely to bring in “a superior offer under the definitive agreement,” according to a news release.

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The third party was not identified.

POSaBit, based in Kirkland, Washington, said it will not increase its offer to match the higher bidder.

Denver-based Akerna’s three businesses on the shopping block include:

MJ Freeway, a marijuana point-of-sale platform. Leaf Data Systems, a seed-to-sale tracking software for U.S. cannabis markets. Ample Organics, a seed-to-sale tracking software for the Canadian market.

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The new bid for Akerna’s software assets will delay the company’s exodus

The post POSaBit won’t match higher bid for Akerna’s marijuana software business appeared first on GrowCola.com.

Akerna Corp. backed out of an agreement to sell its marijuana software businesses for $4 million to POSaBit Systems Corp…. Continue reading
The post POSaBit won’t match higher bid for Akerna’s marijuana software business appeared first on GrowCola.com.