New Frontier Data, a privately owned data analytics firm in Washington DC that focuses on the cannabis industry, plans to pay roughly $10 million for a Denver-area company in the same field.
New Frontier Data reached an agreement to buy Zefyr, based in Greenwood Village, Colorado, in a cash and stock deal.
The acquisition will allow 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?
New Frontier Data last year acquired Denver-based Hemp Business Journal for an undisclosed price.
For more on New Frontier Data’s acquisition of Zefyr, click here.