Building on a string of recent moves, Greenwood Village cannabis tech company Helix TCS has acquired Denver's Amercanex International Exchange, an electronic trading platform for legal cannabis.
The move allows Helix to create an electronic communications network that can integrate blockchain technology to facilitate real-time transactions of wholesale cannabis products between licensed operators in regulated markets.
This is the fourth acquisition Helix has made since 2016, growing rapidly in the legal cannabis space. In 2016, the company acquired Cannabase, a wholesale cannabis platform, made a move for cannabis security firm Security Grade Protective Services in 2017, and acquired software development firm Engeni SA last year.
In 2018, the Denver Tech Center-based company also merged with BioTrackTHC, a seed-to-sale tracking platform.
The acquisitions support Helix TCS' mission to be the leading service provider for the cannabis industry.
"Helix TCS now possesses the unique technology suite needed to scale the industry's first compliant wholesale cannabis exchange worldwide," said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS. "Clients of BioTrackTHC, Amercanex, and Cannabase, which is likely the largest network of licensed cannabis operators in the industry, will be the first to enjoy the competitive advantages and benefits of our industry-leading Critical Infrastructure Services Platform."
The platform enables new and already operating cannabis businesses to manage infrastructure in their supply chain, inventory and compliance functions, the company said in a release.
"We are extremely excited to become a part of Helix TCS, which is known throughout the industry as a leading innovator in technology and security offerings," said Steve Janjic, CEO of Amercanex. "This acquisition further strengthens Helix's position at the forefront of the cannabis market."
Helix's products reach over 2,000 customer locations in 33 states and 5 countries and the company has processed over $18 billion in cannabis sales. According to a figure on the company's website, Helix had more than $3 million in quarterly revenue in September 2018.
Earlier this month, the company announced that it had been selected to provide the software to track medical cannabis sales for patients participating in the Illinois Opioid Alternative Pilot Program. The program will give patients that receive opioid prescriptions access to medical marijuana as an alternative to prescriptions.
