POSaBIT Systems Corporation POSAF PBIT announced the Received Notice of Termination from Akerna Corp. CORE in connection with the company previously announced Definitive Agreement to Acquire MJ Platform, Leaf Data Systems and Ample Organics. The notice states that Akerna has determined that a third party bid for the acquired businesses has a reasonable likelihood of resulting in a superior bid under the Definitive Agreement.

After considering all relevant circumstances, the board and management of POSaBIT decided unanimously not to increase its offer correspond to the alternative offer.

The Announcement does not affect trade agreements in place between MJ highway and POSaBIT in relation to various matters, including a Ppayments SServices Rpreferred Aapproval granting POSaBIT certain exclusive rights to provide payment processing services (including the newly acquired suite of Hypur payment products) to MJ Freeway merchants.

POSaBIT announced Earlier this week, it acquired payment and compliance solutions provider Hypur for $7.5 million, bringing over $100 million in annual gross merchandise value for payments.

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