Following the announcement of a major asset purchase agreement, WiSA Technologies, Inc. (NASDAQ: WISA) has seen a notable increase in its share value. In pre-market trading, WISA stock surged by 69.85%, reaching $2.31.
WISA Unveiled Strategic Acquisition of Datavault Assets
A formal deal has been reached by WiSA Technologies to purchase the IT assets and intellectual property of Datavault, a subsidiary of Data Vault Holdings Inc., for $210 million. The transaction includes a $10 million, three-year promissory note and 40 million shares of its common stock, priced at $5 a share. It is anticipated that the deal would finalize by December 31, 2024. Today, there will be a conference call for investors to discuss the specifics of the deal.
Expanding Technological Capabilities
This acquisition will position WiSA Technologies as a more comprehensive data technology and licensing firm. The newly combined entity will offer clients and strategic partners advanced solutions for monetizing Blockchain Data and AI Web 3.0 assets through tokenization, data ownership, and digital twins. The integration of Datavault and ADIO assets will enable the company to provide enhanced offerings in two key areas:
Data Sciences:
Licensing of High Performance Computing (HPC) software applications and Web 3.0 data management solutions, catering to sectors such as biotech research, energy, education, fintech, real estate, and healthcare.
Acoustic Sciences:
Licensing of spatial and multichannel HD sound transmission technologies, including ADIO, WiSA, and Sumerian, targeting industries like sports and entertainment, events and venues, restaurants, automotive, and finance.
Leadership and Future Directions
The acquisition not only broadens WiSA Technologies’ market reach but also amplifies its spatial audio technology with Datavault’s extensive IP portfolio. Nathaniel T. Bradley, CEO and co-founder of Data Vault Holdings, will assume the role of CEO of the newly formed company, which will be renamed Datavault Inc.
The deal includes a $200 million payment in restricted common stock and a $10 million unsecured promissory note. Additionally, Master Vault, LLC will receive a 3% royalty on future revenues from the Datavault and ADIO product lines.
