MassRoots, a technology platform for the cannabis industry, announced last week it entered into a definitive agreement to acquire DDDigtal, otherwise known as Whaxy and Cannabuild, for $100,000 cash and 2,926,830 million shares of MassRoots’ common stock.
In a press release, MassRoots said that, since Whaxy launched its menu management and online ordering platform in May for licensed cannabis businesses, it has processed more than $5 million in volume across 40,000 unique transactions.
“This acquisition, when completed, will expand MassRoots’ offerings to include a full suite of dispensary software solutions — online ordering, marketing and real-time inventory management — for cannabis businesses,” stated Isaac Dietrich, MassRoots CEO, in the press release. “Zach Marburger is a brilliant strategist whom we’ve known for years, and Whaxy’s CTO, Micah Davidson, engineered one of the best technology platforms on the market with a lean budget. We could not be more excited to welcome them to the MassRoots team. Over the next few months, our main focus will be increasing the number of dispensaries utilizing the MassRoots/Whaxy platform.”
According to the company, Whaxy’s platform integrates with nearly every major point-of-sale system used in dispensaries and will also connect to the MassRoots network, allowing for live pricing, online ordering and product feedback. Over the last six months, Whaxy has been used by some of the leading businesses in the industry, including Harborside, GreenHouse, Cresco Labs and more.
“We could not be more excited to be joining forces with MassRoots, enabling Whaxy’s system to scale its transaction volume, provide new capabilities to our customers and add more enterprise value far more rapidly than we would have on our own,” stated Zach Marburger, Whaxy founder and CEO, in the same press release. “MassRoots comes to the table with hundreds of thousands of end-cannabis consumer relationships, hundreds of dispensary clients, a world-class development team and one of the largest shareholder bases in the industry. The synergies between our two companies are strong, and together, we’re building a cannabis technology powerhouse.”