WiSA Technologies (NASDAQ: WISA) announced that its stockholders have overwhelmingly approved the acquisition of Datavault® intellectual property and IT assets from Data Vault Holdings Inc. The transaction includes the issuance of 40 million WiSA shares and a $10 million 3-year note, with closing expected around Dec. 31, 2024. Following the acquisition, WiSA will rebrand as Datavault Inc., transitioning into a data technology and licensing company. The new entity will focus on two core solutions: Data Sciences, which will license HPC software and Web 3.0 data management across diverse industries, and Acoustic Sciences, offering HD sound transmission technologies for sectors like sports, entertainment, and automotive. CEOs Brett Moyer of WiSA and Nathaniel T. Bradley of Data Vault highlighted the transformative potential of the deal for commercial expansion and market growth in 2025.
To view the full press release, visit https://ibn.fm/soKwJ
About WiSA Technologies Inc.
WiSA Technologies is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports and more. WiSA is a founding member of the Wireless Speaker and Audio Association (“WiSA”[TM]) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies. The company is headquartered in Beaverton, Oregon, with sales teams in Taiwan, China, Japan, Korea and California. For more information about the company, please visit www.WiSATechnologies.com.
NOTE TO INVESTORS: The latest news and updates relating to WISA are available in the company’s newsroom at https://ibn.fm/WISA
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