Florida-based cannabis software company BioTrackTHC and Colorado-based cannabis services company Helix TCS, Inc. are merging.
The companies announced this week that they’ve signed a merger agreement, but didn’t disclose terms of the deal.
Helix provides security, transportation and compliance services to the industry, and two years ago acquired the cannabis electronic wholesale marketplace Cannabase. BioTrack provides seed-to-sale cannabis tracking software to more than 2,200 operations in 29 states and five countries.
Helix CEO Zachary Venegas said the move creates the largest ancillary cannabis company in the industry.
“The combined firm will offer industry-leading services to clients, improving their ability to serve their customers while increasing efficiency and profitability,” Venegas said.
“We are confident that this merger will enable the combined companies to accelerate growth and thereby enhance the value of our products and services to the customers who rely on us,” said Patrick Vo, President and CEO of BioTrackTHC. “With the continued expansion and maturation of the cannabis industry, we are in an ideal position to rapidly adapt with the evolving needs of our clients.”
The combined company will trade under the Helix stock symbol, HLIX, on the OTC QB.