American Green Brings RFID Tracking to Cannabis with TrackX Acquisition
July 2nd, 2015
News, Top Story
American Green Inc. [stockquote symbol=ERBB], developer of the ZaZZZ cannabis dispensing machine and other innovations within the industry, recently announced the acquisition of TrackX, LLC, a Denver-based provider of RFID tracking and cloud-based physical asset management systems. In addition to having several Fortune 100 companies as clients, the acquisition will enable the company to offer a seed-to-sale cannabis tracking solution.
“Our decade-long background in technology and our unique position in this emerging sector made this opportunity ideal for our company,” said American Green Inc. President Stephen Searin. “We are eager to assist TrackX in maximizing how it serves its impressive client list; help them deliver the business in their equally impressive pipeline, and develop new business, aided by our extensive tracking candidates our company has already developed in this sector.”
The RFID market is worth approximately $8.89 billion this year, which is up from $7.77 billion in 2013 and $6.96 billion in 2012. Management belives the company is well positioned to become a premiere global RFID-enabled asset tracking and supply chain solutions provider, as well as a next-generation platform for the $14.4 trillion “Internet of Things” market.
“We worked for years to develop and service a strong client list and the technology that enables us to offer our unique customers cutting edge solutions,” said TrackX CEO Tim Harvie. “I believe we have more than succeeded in accomplishing that goal. Now, we are ready to bring what we have created to a larger audience. Working with American Green will allow us to do just that. We are proud of what we have achieved up to this point.”
American Green Inc. shares are trading about 10% higher since the beginning of Tuesday’s session following the news release.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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