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WISA's Stockholders Approve Acquisition of Data Vault Holdings' Assets
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WiSA Technologies, Inc. announced that its stockholders have approved the acquisition of Datavault intellectual property and IT assets from Data Vault Holdings Inc. The deal was valued between $266 million and $501 million by a fairness opinion. WISA will issue 40 million shares of WiSA restricted common stock and a $10 million unsecured promissory note, due in three years (with 10% of any financing proceeds used for repayment) and a 3% royalty on future revenues generated from the Datavault and ADIO product lines.
The transaction is subject to customary conditions and is anticipated to be concluded on or around Dec. 31, 2024.
Upon completion of the acquisition, WiSA Technologies will rebrand as Datavault Inc., transitioning into a data technology and licensing company. The new entity will focus on helping clients and partners monetize their blockchain data and artificial intelligence (AI) Web 3.0 assets through tokenization, data ownership and digital twin solutions.
Datavault will offer two key services: Data Sciences and Acoustic Sciences. Post-acquisition, Data Sciences will provide high-performance computing software and Web 3.0 data management solutions for industries such as biotech, energy, education, fintech, real estate and healthcare.
Acoustic Sciences will offer licensed advanced spatial and multichannel HD sound transmission technologies under brands like ADIO, WiSA and Sumerian to sectors including sports, entertainment, events, automotive and finance.
The acquisition positions the rebranded company to capitalize on opportunities in rapidly growing sectors like AI, digital ownership and advanced analytics. WISA highlighted this move as transformative, expanding the company's reach into high-growth markets.
Recently, WISA announced the incorporation of WiSA E software onto the Amlogic S905X4 application processor. This integration is specifically tailored for Android hybrid OTT/IP set-top box and high-end media box applications. The integration is aimed to expand accessibility for wireless audio connectivity to a broader market.
WISA’s Zacks Rank & Stock Price Performance
WiSA Technologies currently carries a Zacks Rank #2 (Buy). Shares of the company have declined 21.7% over the past six months compared with the industry’s decline of 1.9%.
The Zacks Consensus Estimate for InterDigital’s 2024 earnings per share (EPS) is pegged at $15.22, unchanged in the past seven days. IDCC earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 163.7%. The company’s long-term earnings growth rate is 15%. Its shares have jumped 64.4% in the past six months.
The Zacks Consensus Estimate for Ubiquiti’s fiscal 2025 EPS is pegged at $7.30. In the last reported quarter, Ubiquiti delivered an earnings surprise of 20.9%. Its shares have increased 18.9% in the past year.
The Zacks Consensus Estimate for QCOM’s fiscal 2025 EPS is pegged at $11.14, unchanged in the past 7 days. QUALCOMM Incorporated earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 7.57%. Its shares have increased 10.3% in the past year.
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WISA's Stockholders Approve Acquisition of Data Vault Holdings' Assets
WiSA Technologies, Inc. announced that its stockholders have approved the acquisition of Datavault intellectual property and IT assets from Data Vault Holdings Inc. The deal was valued between $266 million and $501 million by a fairness opinion. WISA will issue 40 million shares of WiSA restricted common stock and a $10 million unsecured promissory note, due in three years (with 10% of any financing proceeds used for repayment) and a 3% royalty on future revenues generated from the Datavault and ADIO product lines.
The transaction is subject to customary conditions and is anticipated to be concluded on or around Dec. 31, 2024.
Upon completion of the acquisition, WiSA Technologies will rebrand as Datavault Inc., transitioning into a data technology and licensing company. The new entity will focus on helping clients and partners monetize their blockchain data and artificial intelligence (AI) Web 3.0 assets through tokenization, data ownership and digital twin solutions.
WiSA Technologies Inc. Price and Consensus
WiSA Technologies Inc. price-consensus-chart | WiSA Technologies Inc. Quote
Datavault will offer two key services: Data Sciences and Acoustic Sciences. Post-acquisition, Data Sciences will provide high-performance computing software and Web 3.0 data management solutions for industries such as biotech, energy, education, fintech, real estate and healthcare.
Acoustic Sciences will offer licensed advanced spatial and multichannel HD sound transmission technologies under brands like ADIO, WiSA and Sumerian to sectors including sports, entertainment, events, automotive and finance.
The acquisition positions the rebranded company to capitalize on opportunities in rapidly growing sectors like AI, digital ownership and advanced analytics. WISA highlighted this move as transformative, expanding the company's reach into high-growth markets.
Recently, WISA announced the incorporation of WiSA E software onto the Amlogic S905X4 application processor. This integration is specifically tailored for Android hybrid OTT/IP set-top box and high-end media box applications. The integration is aimed to expand accessibility for wireless audio connectivity to a broader market.
WISA’s Zacks Rank & Stock Price Performance
WiSA Technologies currently carries a Zacks Rank #2 (Buy). Shares of the company have declined 21.7% over the past six months compared with the industry’s decline of 1.9%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader technology space are InterDigital, Inc. (IDCC - Free Report) , Ubiquiti Inc. (UI - Free Report) and QUALCOMM Incorporated (QCOM - Free Report) . IDCC and UI presently sport a Zacks Rank #1 (Strong Buy) each, whereas QCOM carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for InterDigital’s 2024 earnings per share (EPS) is pegged at $15.22, unchanged in the past seven days. IDCC earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 163.7%. The company’s long-term earnings growth rate is 15%. Its shares have jumped 64.4% in the past six months.
The Zacks Consensus Estimate for Ubiquiti’s fiscal 2025 EPS is pegged at $7.30. In the last reported quarter, Ubiquiti delivered an earnings surprise of 20.9%. Its shares have increased 18.9% in the past year.
The Zacks Consensus Estimate for QCOM’s fiscal 2025 EPS is pegged at $11.14, unchanged in the past 7 days. QUALCOMM Incorporated earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 7.57%. Its shares have increased 10.3% in the past year.