Akerna Corp. (NASDAQ: KERN) stock declined by 0.9% at the last close whereas the KERN stock price gains by 17.22% in the after-hours trading session. Akerna Corp. headquartered in Denver, Colorado, aims to establish a cannabis technology ecosystem that connects data points across the global cannabis supply chain, from seed to sale to consumption, in order to generate the world’s most effective and open supply chain.
KERN stock’ Significant Development
In a $17 million purchase valued at 2.1x LTM revenue, Akerna announced the acquisition of 365 Cannabis, a cannabis business management software solution built on Microsoft’s Dynamics 365 Business Central.
Akerna’s Compliance Gateway, feature-rich reporting, MJ Retail POS, and the newly added Akerna Connect will be available to 365 Cannabis’ 85+ clients as a result of the purchase. For comprehensive financials and tax planning, Akerna has worked with SAP, Sage Intacct, and other major vendors, providing cannabis operators with a solution for each phase of their growth while preserving compliance requirements every step of the way with Akerna’s Compliance Gateway. With the inclusion of Microsoft capabilities, the purchase of 365 Cannabis enhances the implementation of this strategy, further positioning Akerna as the most powerful cannabis-compliant ERP software with a full portfolio of conventional tax and financials.
Akerna and 365 Cannabis will combine their complementing main competencies to:
- Allow Akerna to provide the most comprehensive suite of ERP solutions for cannabis businesses, with access to the bulk of the mainstream mid-market financial and tax planning industry, while also positioning Akerna as the most powerful cannabis-compliant Microsoft product.
- Provide cannabis scaled synergies by preserving regulatory compliance every step along the way with Akerna’s Compliance Gateway, which provides operators with a financial and tax planning system for each phase of their expansion while generating combined.
- Give Akerna’s compliance gateway and environment, as well as Akerna’s retail and analytical abilities, to 365 Cannabis’ 85+ customers.