Cowen’s Kyber Data Science Subsidiary to Exclusively Market Headset’s Cannabis Data to the Financial Services Industry
NEW YORK, Nov. 28, 2018 (GLOBE NEWSWIRE) — Kyber Data Science, LLC, a wholly-owned subsidiary of Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company”), today announced an agreement with Headset, whereby Kyber will sell and distribute Headset’s cannabis point of sale data to the financial services industry. Based in Seattle, Headset is the leading retail analytics firm for cannabis-related businesses.
The announcement was made at Cowen’s Cannabis Summit, taking place in Boston today.
Under the terms of the agreement, Kyber Data Science will sell and distribute Headset’s cannabis market data to the financial services industry on an exclusive basis throughout the United States, Europe and Australia. Data include state-level revenue; revenue, market share and top brands by product segment; and other leading indicators of industry growth. This agreement expands upon the relationship forged between Headset and Cowen’s equity research group in June 2018.
“We are thrilled to combine Cowen’s expertise in data science and the cannabis sector with Headset’s proprietary industry perspective. We are confident this new product will be a source of actionable insight,” said Robert Fagin, the head of Cowen’s Kyber Data Science subsidiary. Kyber was established by Cowen to develop and sell unique and proprietary datasets across a variety of sectors to institutional investors and corporations.
“Today’s announcement is an exciting expansion of Cowen’s partnership with Headset,” said Cowen CEO Jeffrey M. Solomon. “We are delighted to have the opportunity to collaborate such industry leaders to help our clients distill investment opportunities.”
“We are excited to be working with Cowen, a leading firm in the cannabis space,” said Cy Scott, CEO and co-founder of Headset. “Bringing Headset’s real-time cannabis market data to the financial services industry through Kyber Data Science enables a new audience to get a competitive edge in the market.”
About Cowen Inc.
Cowen Inc. (“Cowen” or the “Company”) is a diversified financial services firm that operates through two business segments: a broker dealer and an investment management division. The Company’s broker dealer division offers investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing and commission management services. Cowen’s investment management segment offers actively managed alternative investment products. Cowen Inc. focuses on delivering value-added capabilities to our clients in order to help them outperform. Founded in 1918, the firm is headquartered in New York and has offices worldwide. Learn more at Cowen.com
Headset is a data and analytics service provider for the cannabis industry, with a mission to help operators make more informed business decisions through data. Headset focuses on consumer transaction information to help cannabis retailers better optimize operations while leveraging aggregate and retailer-direct sales data to provide product manufacturers, processors and distributors the tools to identify trends and opportunities, stay competitive, and collaborate with retail customers.
In addition to leading-edge analytics and data visualization platforms, Headset frequently releases industry reports, sharing the insights from their aggregate data with the growing cannabis industry.
Cowen Media Contacts:
Headset Media Contacts:
Source: Cowen Inc.