Marijuana company Tilt Holdings inks $210 million deal to buy vape tech firm

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Tilt Holdings, a Massachusetts company specializing in cannabis technology, cultivation and support solutions, agreed to acquire Jupiter Research, a Phoenix-based vaporization technology business, for $210 million.

Tilt CEO Alex Coleman said in a news release the acquisition “is paramount to our goal of consolidating and centralizing services for all industry verticals: cultivation, production and retail.”

Founded in 2015, Jupiter produces power supplies and cartridges specifically for cannabis oil. The company partners with more than 700 brands in the United States, Canada, the European Union and Israel.

Jupiter generated about $77 million in revenue in 2018.

Tilt’s portfolio of companies already includes two medical cannabis cultivation businesses – Standard Farms, a multistate U.S. operator, and Sante Veritas Holdings, a licensed producer in Canada.

Tilt’s other holdings include:

  • Baker Technologies, a customer analytics software company targeting retail stores.
  • Blackbird, a distribution services and software firm.
  • Briteside, a company that provides prefabricated modular construction services for grow facilities.
  • Sea Hunter Therapeutics, a capital and consulting company.