Denver marijuana tech firm Baker gets scooped up in four-way merger, with IPO planned

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Baker Technologies Inc., a Denver-based developer of software for cannabis businesses, has drafted a seemingly simple recipe for success: strength in numbers. The startup that started out with desires of being a consolidator — acquiring and integrating other cannabis-centric technology firms — will itself be folded into a larger firm. Under a four-company merger announced Tuesday, Baker will serve as a key ingredient of Tilt Holdings Inc., a newly formed provider of an assortment of cannabis services, technologies and products to feed the mushrooming multibillion-dollar global cannabis industry. The four-way merger is another deal in a wave of cannabis industry consolidation and comes on the heels of Monday’s giant $2.2 billion merger of Canadian marijuana firms Aurora Cannabis Inc. and MedReleaf Corp. In addition to Baker, Tilt’s founding companies include: Briteside Holdings LLC, a Bend, Ore.-based marijuana delivery company; Sea Hunter, a Boston-based marijuana facilities operator and finance provider; and Sante Veritas Holdings Inc., a newly formed Toronto-based company that submitted applications to be a licensed marijuana producer in Canada. Tilt is targeting a public offering in Canada and projecting a market capitalization of $500 million. Denver marijuana tech firm Baker gets scooped up in four-way merger, with IPO planned

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