Technology company Forian said it is selling cannabis software provider BioTrack for $30 million in cash to Alleaves and exiting the marijuana industry to focus on health care.
The transaction is the second in just over two weeks in which a notable tech company has decided to leave the cannabis industry in the face of stiff competition, widespread layoffs and falling wholesale prices for marijuana products.
Akerna Corp., the parent company of pioneering seed-to-sale tracking provider MJ Freeway, on Jan. 27 announced a $4 million cash deal to sell its cannabis software business to POSaBIT Systems Corp. and exit the marijuana industry.
At the same time, Denver-based Akerna said it was merging with cryptocurrency business Gryphon Digital Mining in an all-stock deal allowing the latter company to go public on the Nasdaq.
BioTrack was recently chosen by New York regulators to provide seed-to-sale tracking software for
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