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
Read full article on Marijuana Business Daily