WASHINGTON--(BUSINESS WIRE)--New Frontier Data, the global authority in data, analytics and business intelligence for the cannabis industry, today announced it has completed its diligence and will move forward with its acquisition of leading cannabis lifestyle media company Civilized Worldwide Inc., after announcing its intent to do so in October 2019.
“The Civilized brand and the content generated to engage cannabis consumers, influencers and multinational brands are world class and everything we expected; that said, during our diligence we identified areas for improvement,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. “Civilized and New Frontier Data have agreed that, in order to allow an effective and successful restructuring, we need to halt day-to-day operations at Civilized, with a temporary lay-off of all staff. This will allow clarity to move forward, introduce additional technology, and ultimately strengthen Civilized’s ability to deliver and engage on a global scale.”
Civilized halted operations December 2, 2019, with the goal of quickly positioning the business for growth and profitability in 2020. Its staff have been laid-off temporarily, allowing the leaders of both companies to focus on the development of a shared strategic and capital plan for 2020. New Frontier Data will assume Civilized debts and liabilities.
“Civilized regularly connects with millions of cannabis consumers in intelligent, thoughtful and effective ways, opening a world of possibilities for brands looking to harness these connections as they enter the lucrative cannabis markets emerging around the world,” added Aguirre de Carcer. “With the additions of Civilized and Zefyr earlier this year, New Frontier Data expands beyond the world’s most rigorous cannabis market research and business intelligence to offer brands the first platform for discovering consumers, deciding about business and marketing investments, and deploying campaigns to move products, influence opinions and capture a leadership position in cannabis.”
New Frontier Data plans to restart Civilized’s operations in January as part of a new combined entity.
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policy makers. New Frontier Data’s reports and data have been cited in over 80 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C., with additional offices in Denver, CO and London, UK.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data, please visit: https://www.NewFrontierData.com