Weedmaps platform

Weedmaps platform

Irvine-based WM Technology Inc. (Nasdaq: MAPS) said it bought Massachusetts marketing software company Sprout in a move that would give it more tools to offer to the cannabis-related businesses it serves.


Terms of the deal were not disclosed.


Sprout’s software helps dispensaries with customer relationship management, marketing, email, loyalty programs and analytics.

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The purchase marks the first since WM Technology, parent to Weedmaps, went public in June through a reverse merger to raise $579 million in proceeds.


Weedmaps provides information on dispensaries, brands, doctors and other cannabis-related business information. The company last month launched a feature on its app that lets customers place orders with cannabis retailers.


Shares of WM Technology were trading up 3.1% to $14.51 on Tuesday for a market cap of $1.9 billion.