Helix TCS, a Colorado cannabis company that offers a wide range of services for industry firms, announced Tuesday it has acquired Cannabase, a leading online wholesale platform where many of the state’s growers and retailers buy and sell marijuana.
The move broadens Helix TCS’ reach into the marijuana industry. Helix, a public company that trades on the over-the-counter markets under the ticker symbol HLIX, already offers armed security, consulting services on banking and compliance, logistical support, and more. Terms weren’t disclosed.
“Cannabase’s critical mass in the marketplace, coupled with the deep pipeline of market-ready technology solutions, made its acquisition a strategic imperative,” Zac Venegas, the CEO of Helix TCS, said in a news release.
“This supports our mission to provide a compliant, integrated operating solution to clients.”
Jennifer Beck, co-founder and managing director of Cannabase, said in the release that her team is “incredibly excited to partner with Mr. Venegas and the Helix TCS team.”
Cannabase was founded in 2013 and currently serves roughly 70% of business licensees in Colorado, including cultivators, retailers, and edibles makers. The company will continue to operate under the name Cannabase, but is now a wholly owned subsidiary of Helix TCS.