Washington D.C.-based New Frontier Data, a privately-owned data analytics firm that focuses on the cannabis industry, plans to pay about $10 million for a Denver-area company in the same field.
New Frontier Data reached an agreement to buy Zefyr Inc., based in Greenwood Village, Colorado, in a cash and stock deal.
The acquisition will allow the New Frontier Data to “expand and deepen our data services,” Giadha Aguirre de Carcer, the CEO and founder of the company, said in a statement.
Zefyr said its data can help marijuana businesses answer a number of questions including:
- Where are my ideal customers located?
- What products/experiences do consumers prefer?
- What are the average and individual prices of products being sold?
- What are people saying about products like mine?
- Where are dispensaries located and how popular are they?
- Where are cannabis doctors and how popular are they?
Last year, New Frontier Data acquired Denver-based Hemp Business Journal for an undisclosed price.
For more on the most recent acquisition, click here.
Written by John Rebchook
Marijuana Business Daily