MJ Biz report
New Brunswick, Canada, marijuana publishing company Civilized Worldwide is “temporarily” laying off its entire workforce ahead of a pending sale to Washington DC-based New Frontier Data.
New Frontier, a data and analytics company, said in a news release it has completed its diligence and will move forward with its acquisition of Civilized.
The price of the acquisition also was not disclosed, but New Frontier said it will assume Civilized Worldwide’s debts and liabilities.The companies did not disclose the number of employees that are affected.
“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 layoff of all staff,” New Frontier said in the news release.
Here’s the NFD full press statement
New Frontier Data Completes Diligence, Moves Forward With Civilized Acquisition
“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.
This is what the Civilized Home Page looks like today
Unsurprisingly there’s nothing about the acquistion and layoffs on the Civilized site.