SinglePoint (OTC:SING), a company that specializes in acquiring small to-mid size companies, particularly new technologies, announced it has acquired Discount Indoor Garden Supply (DIGS).
As quoted in the press release:
Per the agreement, SinglePoint has acquired 90 percent of DIGS in a stock and cash transaction that demonstrates SinglePoint’s ability to strategically grow its portfolio of investments in established, high-potential cannabis businesses, and provides a new source of revenues to help facilitate future acquisitions.
The acquisition of DIGS immediately positions SinglePoint as a leader in online products, retail stores, cannabis consulting, and equipment in California, home to thousands of cannabis-related businesses and potential customers. As a result, SinglePoint expects to show a significant increase in revenues in the second-quarter financial filings.
SinglePoint CEO Greg Lambrecht states, “This acquisition is an important one for SinglePoint and strengthens our footing in the cannabis industry. The acquisition of DIGS is phenomenal for the company’s books. More importantly though are the people that come along with this. We are investing in people we believe in, people that we know can continue to run and grow their company. Mr. Haas is extremely knowledgeable, has over 25 years of experience in the industry, and will be a key influencer in the decisions SinglePoint makes on the cannabis side of the business.”
Source: New feed