Akerna Corp., a Denver-based cannabis compliance technology provider, said Wednesday it has entered into an agreement to all of the issued and outstanding shares of Canadian-based Ample Organics Inc. in a cash and stock transaction valued at up to US$45-million.
Toronto-based Ample, which says it serves more than 70 per cent of the Canadian market with its seed-to-sale platform, was recently selected to deliver a national cannabis tracking platform in St. Vincent and The Grenadines in 2020.
Jessica Billingsley, chief executive officer of Akerna, said the acquisition will allow the company to execute “its business strategy of complementing strong organic growth with select acquisitions of highly targeted and synergistic technology companies.”
Akerna says the deal to acquire Ample is comprised of US$5.7-million cash and US$32.3-million in Akerna stock payable on closing. Additional consideration of US$7.6-million in the form of a stock-based deferred consideration may be paid to Ample shareholders if certain revenue targets are achieved by Ample in calendar 2020. The transaction is expected to close by the end of Q1 2020.