Akerna Closes $17M Acquisition Of 365 Cannabis, An ERP Built On Microsoft's Dynamics 365 Biz Central

Akerna KERN, a software company focused on compliance in the cannabis industry announced it has closed its $17 million acquisition of 365 Cannabis.

365 Cannabis is a cannabis ERP (enterprise resource planning) and business management software system built on Microsoft's Dynamics 365 Business Central.

The acquisition of the software system will allow the company to:

• Add the most robust cannabis-compliant Microsoft ERP on the market;
• Offer seamless solutions to businesses ranging from startups to multi-state operators; and,
• Provide access to Akerna's compliance gateway and recently launched Akerna Connect.

365 Cannabis, a vertically integrated cannabis software solution, is a Microsoft Gold Partner. Its ERP solution covers areas such as Cultivation, Production, Global Compliance, QC, Finance, Dispensing & Retail, CRM, Warehousing, Distribution, Multi-Facility, Multi-Company, Multi-Entity, Language, Currency and more.

The Company services a client base composed of leading U.S.-based MSOs and single-state operators, and Canadian LPs, in addition to global cannabis clients outside North America.

"The 365 Cannabis acquisition represents the final piece of the puzzle for connecting cannabis compliance with mainstream ERP offerings to give our clients a choice between all of the most popular financial and operational systems," said Akerna CEO Jessica Billingsley in a Monday press release.

"We are proud to offer cannabis operators the most comprehensive cannabis technology ecosystem of the best-in-class tax, financial, compliance, consulting, training, data analytics, product development, and more."

Price Action

AKERNA shares were trading down 5.26% at $2.70 per share at the time of writing, late Monday afternoon.