RushNet Inc. and XYZ Hemp Inc. said they have acquired GreatRateFreight Inc., a company that specializes in using technology to link shippers with trucking companies. Terms were not disclosed.
GreatRateFreight CEO Chuck Balandrin said the company will help the new partners target an audience of 7 million truckers in North America.
GreatRateFreight is completing the development of technology using logistics to service the needs of trucking companies, owner-operators and customers/shippers while offering financial transactions and delivery data, the company said.
The transaction indicates that the changes in laws regarding marijuana-derived products have companies branching into logistics. RushNet is an edibles and beverage company that distributes cannabidiol, also known as CBD oil.
In states such as Alabama that have legalized CBD, the nonintoxicating marijuana product is said to calm or eliminate seizures. Other states allow CBD as well as medical marijuana to treat wider problems, such as anxiety. XYZ Hemp is a medical CBD company.