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.
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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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