Greenlane holdings, inc. (nasdaqgm:gnln) completed the acquisition of conscious b.v.

Greenlane holdings, inc. (nasdaqgm:gnln) entered into a definitive agreement to acquire conscious b.v. for €7.5 million on september 24, 2019. total consideration for the transaction is up to €7.5 million with €4.5 million paid up front, consisting of €3 million in cash and €1.5 million in stock. the agreement includes a provision for potential additional consideration of up to €3 million payable in cash and stock upon on the achievement of sales growth and gross margin targets. on a consolidated basis, the acquired businesses generated $11.9 million (€10.4 million) of revenue during calendar 2018. thirty employees of conscious led by an established management team will remain with the business. closing of the transaction is subject to customary conditions. the acquisition is to be immediately accretive to annualized net earnings following the close of the transaction. greenlane holdings, inc. (nasdaqgm:gnln) completed the acquisition of conscious b.v. on september 30, 2019. conscious' team and brands will join greenlane.
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