Datavault AI Inc. (NASDAQ: DVLT), a provider of data monetization, credentialing, digital engagement and real-world asset tokenization technologies, announced it has entered into a binding letter of intent to acquire 100% of CyberCatch (TSXV: CYBE) (OTCQB: CYBHF), a cybersecurity company offering a patented, AI-enabled platform for continuous compliance and cyber risk mitigation. The all-stock transaction is valued at approximately CAD $136.8 million.
Under the terms of the LOI, CyberCatch is expected to operate as a Datavault AI subsidiary, with founder, Chairman and CEO Sai Huda serving as president of the subsidiary. The acquisition aims to integrate CyberCatch's cybersecurity capabilities with Datavault AI's existing data science and acoustic science divisions, creating a comprehensive platform for secure data monetization and Web 3.0 applications.
Datavault AI's cloud-based platform provides solutions for experiential data perception, valuation and secure monetization. Its Data Science Division leverages Web 3.0 and high-performance computing, while its Acoustic Science Division features patented technologies including WiSA, ADIO and Sumerian for wireless HD sound transmission. The company's Information Data Exchange enables digital twins and licensing of name, image and likeness by attaching physical real-world objects to immutable metadata objects.
CyberCatch's AI-enabled platform offers continuous compliance monitoring and cyber risk mitigation, which will complement Datavault AI's offerings in the rapidly growing cybersecurity and data monetization markets. The combined entity is expected to provide enhanced solutions for industries such as sports and entertainment, biotech, fintech, real estate, healthcare and energy.
This strategic move positions Datavault AI to capitalize on the increasing demand for secure data management and tokenization in the Web 3.0 environment. The acquisition is subject to customary closing conditions, including regulatory approvals. For more details on the transaction, visit the full press release here.
Datavault AI is headquartered in Philadelphia, PA, and its latest news and updates are available in the company's newsroom at https://ibn.fm/DVLT.
