WiSA Technologies Completes Acquisition of Data Vault Holdings’ Assets and Announces Leadership Changes

WiSA Technologies, Inc. recently finalized the acquisition of information technology assets, patents, and trademarks from Data Vault Holdings Inc. This acquisition, which concluded on December 31, 2024, involved the transfer of assets for a total consideration of $10 million in a promissory note, 40 million shares of restricted common stock, and the assumption of transferred liabilities. WiSA Technologies also entered into various agreements, including an Earnout Agreement and a Second Asset Purchase Agreement Amendment, restructuring their board of directors.

As part of this transaction, Nate Bradley was appointed as the new CEO of WiSA Technologies, succeeding Brett Moyer, who will continue as the Chief Financial Officer and Board member. Bradley’s appointment signals a strategic shift for WiSA, with plans to rebrand as Datavault Inc. in mid-January 2025. In conjunction with his appointment, Bradley received 1,200,000 units of restricted stock as an inducement for his role.

The acquisition broadens WiSA’s portfolio, integrating Datavault’s advanced technologies, such as Sumerian® crypto anchors and ADIO® advertising network. These technologies provide capabilities in data valuation, visualization, and monetization, positioning WiSA for expansion and growth through strategic acquisitions. Management believes the acquisition creates significant synergies, setting a path for increased market reach and investment opportunities.

The agreement also includes provisions like the issuance of a Promissory Note, royalty agreements on future net revenues, and a clause for potential capital raising. WiSA Technologies has emphasized its commitment to transparency and compliance, outlining details of convertible debt provisions, event of default scenarios, and financial obligations related to the acquired assets.

Additionally, in connection with the acquisition, WiSA Technologies issued a press release on January 7, 2024, to announce the completion of the transaction and Nate Bradley’s appointment as CEO. The press release highlighted the strategic implications of the acquisition and emphasized the synergies expected from integrating Datavault’s intellectual property and technology assets.

For further details on the asset purchase, leadership changes, and the rebranding of WiSA Technologies, interested parties can access the full filing on the Securities and Exchange Commission’s website for comprehensive insights and disclosures about this significant business development.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read WiSA Technologies’s 8K filing here.

WiSA Technologies Company Profile

WiSA Technologies, Inc develops, manufactures, and sells audio wireless technology for smart devices and next-generation home entertainment systems in the United States and Europe. The company offers wireless modules. It serves primarily to consumer electronics companies. The company was formerly known as Summit Wireless Technologies, Inc and changed its name to WiSA Technologies Inc in March 2022.