365 Cannabis is built on Microsoft's Dynamics 365 Business Central. Akerna termed the acquired product the “most robust cannabis-compliant Microsoft ERP on the market” and that it would offer “the broadest portfolio of technology solutions provider for cannabis operators.” Akerna had $7.8 million in revenue for the six months ended December 31. The company made that report to the SEC as it changed its reporting period from a June 30 fiscal year end to a calendar year. It had $8,9 million in revenue for the six months ended June 30. Akerna owns several cannabis companies, including Viridian Sciences, Leaf Data Systems and Trellis.
Estimated reading time: 0 minutes, 38 seconds
AKERNA BUYS 365 CANNABIS Featured
Akerna, which is out to consolidate the cannabis software business, has acquired 365 Cannabis for $17 million. Akerna has also raised $20 million this month through the sale of convertible debentures to its existing institutional investors.