Akerna Acquires 365 Cannabis For $17M, Seeks To Create Most Comprehensive ERP System In Cannabis Industry

Akerna Corp (NASDAQ: KERN), an enterprise software program firm targeted on compliantly serving the hashish, hemp and CBD industries will purchase 365 Hashish, a system constructed on Microsoft (NASDAQ:MSFT)’s Dynamics 365 Enterprise Central.

What Occurred

The $17 million transaction combines Akerna’s compliance gateway and feature-rich reporting with 365 Hashish’ Microsoft providing to supply a full hashish know-how ecosystem, essential for operators to scale because the hashish trade continues to develop.

Why It Issues

The acquisition, administration says, positions Akerna as essentially the most complete hashish ERP system providing a whole portfolio of tax, financials, reporting and compliance methods. 

“Via the addition of 365 Hashish to the Akerna ecosystem, we have now rounded out our portfolio of world-class monetary and tax planning options, supporting hashish companies from the day they make their first sale to the day they develop into an MSO,” Akerna CEO Jessica Billingsley informed Benzinga. “365 has constructed a stable crew, high quality product, and sturdy consumer base, and we’re thrilled to welcome them to the Akerna household.” 

What’s Subsequent

The mixed complementary key capabilities of Akerna and 365 Hashish will: 

• Allow Akerna to ship a broad portfolio of ERP options for hashish operators whereas establishing Akerna because the solely cannabis-compliant Microsoft providing.
• Supply hashish operators a monetary and tax planning system for every stage of their development.
• Give 365 Hashish’ 85+ prospects entry to Akerna’s compliance gateway and ecosystem.

“We’re thrilled to affix the Akerna household, a pioneer in hashish seed-to-sale software program who’ve constructed essentially the most complete ERP system within the hashish trade,” Jeff Kiehn, CEO of 365 Hashish informed Benzinga.

“Because the trade continues to scale, hashish operators are searching for know-how distributors and different companions to scale with. Including 365 Hashish to the Akerna ecosystem solutions the calls for of rising MSOs, providing them our mixed portfolio of the best-in-class tax, monetary, compliance, consulting, coaching, knowledge analytics, product improvement, and extra,” Kiehn added.

Akerna has additionally partnered with SAP (NYSE:SAP), Sage Intacct and different main suppliers for built-in financials and tax planning, providing hashish operators an answer for every stage of their evolution – from startup to multistate operator (MSO) – whereas sustaining regulatory compliance each step of the way in which by way of Akerna’s Compliance Gateway. The acquisition of 365 Hashish accelerates the deployment of this technique with the addition of Microsoft capabilities, additional establishing Akerna as the one cannabis-compliant ERP system providing a whole portfolio of mainstream tax and financials. 

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