Core Insights - WiSA Technologies, Inc. has received stockholder approval for the acquisition of Datavault intellectual property and IT assets from Data Vault Holdings Inc., valued between 501 million [1] - The acquisition will lead to a rebranding of WiSA Technologies as Datavault Inc., focusing on data technology and licensing, particularly in blockchain data and AI Web 3.0 assets [2][11] - The transaction is expected to be completed around December 31, 2024, subject to customary conditions [9] Company Developments - WiSA will issue 40 million shares of restricted common stock and a $10 million unsecured promissory note, with a 3% royalty on future revenues from Datavault and ADIO product lines [1] - Post-acquisition, Datavault will provide services in Data Sciences and Acoustic Sciences, targeting industries such as biotech, energy, education, fintech, real estate, and healthcare [10] - The integration of WiSA E software onto the Amlogic S905X4 application processor aims to enhance wireless audio connectivity for Android hybrid OTT/IP set-top boxes and high-end media applications [4] Market Position - WiSA Technologies currently holds a Zacks Rank 2 (Buy), with shares declining 21.7% over the past six months compared to a 1.9% decline in the industry [5] - The acquisition positions the rebranded company to tap into high-growth markets, including AI, digital ownership, and advanced analytics [11]
WISA's Stockholders Approve Acquisition of Data Vault Holdings' Assets