Marijuana tech firm Fyllo buys Denver’s CannaRegs for $10 million

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Chicago-based Fyllo, a digital marketing firm that focuses on the cannabis industry, on Friday said it has agreed to pay $10 million to acquire Denver-based CannaRegs.

CannaRegs provides a web-subscription service and technology platform that offers access to state and municipal cannabis rules and regulations.

In February, the company said it secured a $2 million capital raise to launch Regs Technology, a vehicle to move CannaRegs beyond the cannabis industry.

Amanda Ostrowitz, CannaRegs’ founder and CEO, will join Fyllo as its chief strategy officer.

CannaRegs was poised to be acquired in 2017 by Denver-based cannabis technology firm MassRoots for $12 million, but the deal collapsed.