Nic Inc. (Nasdaq: EGOV), a provider of digital government services, acquired Complia, a provider of a technology platform for government regulation of the cannabis and hemp industries.
The amount of the deal was not disclosed.
The acquisition expands NIC’s professional licensing capabilities, which also include:
– dozens of tailored licensing services across the United States,
– a custom cannabis regulatory system for the state of Oregon, and
– an enterprise licensing and permitting platform for the state of Illinois.
Complia’s cloud-based cannabis and hemp licensing technology platform serves three primary aspects of cannabis regulation: business licensing, patient and caregiver registration, and employee credentialing. The system integrates with NIC’s payment processing system as well as third-party seed-to-sale systems, and can be deployed rapidly, typically within 30-45 days after a contract is signed.
Founded in 2015, the company currently has contracts to provide their technology platform to four states, with NIC serving as the payment processor.
This acquisition is a purchase of the entire business, and all employees will become NIC employees, including Complia’s three founders: Alex Valvassori, who will serve as an NIC General Manager; Harikrishnan Gopalakrishna, who will serve as a Senior Director of Technology at NIC; and Ramesh Babu, who will serve as a Director of Operations at NIC.
Led by Harry Herington, Chief Executive Officer and Chairman of the Board, Nic provides a payment processing platform and thousands of digital government solutions across a network of more than 6,000 federal, state, and local government agencies.
In addition, the company is one of the nation’s leading providers of outdoor recreation solutions.
Nic also provides a personal assistant for government and comprehensive mobile platform, Gov2Go®, and recently launched a data-driven prescription drug monitoring platform, RxGov®.
FinSMEs
08/05/2019