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Hemp-infused products maker Phivida closes acquisition of Wikala

Canadian hemp-infused products maker Phivida Holdings Inc. said May 29 that it completed the C$22.5 million acquisition of e-commerce technology firm Wikala.com Inc., announced April 30.

Wikala founder David Moon was appointed to Phivida's board and will continue as the e-commerce company's president.

With the announcement, Phivida outlined its plans to expand the market for its Oki and Vida+ branded products across North America via Wikala.com's online platform.

Phivida CEO Jim Bailey said the company will leverage Wikala.com's existing base of over 400,000 active users and expects to grow it to more than 1 million by the first half of 2020.