- Anticipates CompuSystems will contribute $13
million to $15 million revenue and $3 million to $4 million in
EBITDA in 2025 -
- Provides proven platform to deliver
experiential audio tours and will activate ADIO technology for 1.4
million event attendees and advances Datavault’s Web 3.0 data
monetization strategy with historic best-in-class event data assets
spanning decades of CompuSystems operations –
- Conference call on December 30, 2024, at 11
am ET -
WiSA Technologies, Inc. (“WiSA Technologies,” “WiSA” or the
“Company”) (NASDAQ: WISA), which anticipates closing its
acquisition of Datavault® intellectual property and information
technology assets of privately held Data Vault Holdings Inc.® and
changing its name to Datavault Inc. on or about December 31, 2024,
has entered into a Definitive Agreement (the “Agreement”) to
acquire privately held CompuSystems, Inc. (“CSI”), a premier
provider of registration, data analytics, and lead management
services for live events. In 2025, CompuSystems’ current management
expects CSI to contribute between $13 million and $15 million in
revenue and between $3 million and $4 million in EBITDA. Combined
management will host a conference call on Monday, December 30th at
11 am ET to discuss the transaction.
“Building on the transformational process underway with our
anticipated close of Datavault’s assets, this strategic acquisition
will leverage CSI’s vast experience and depth in the events
management business with the advanced capabilities of Datavault’s
ADIO® platform,” said Brett Moyer, CEO of WiSA Technologies.
“Driving new revenue streams and gross margin expansion, we expect
strong revenue and EBITDA contributions in 2025 from this
acquisition.”
Nathaniel T. Bradley, Data Vault Holdings’ CEO, said, “In early
December 2024, we announced we had embedded ADIO in CSI’s M3 Expo
Wallet App, with a planned roll out starting in January 2025.
Recognizing the strengths and mutual advantages of this
collaboration, WiSA entered into an agreement to acquire CSI.
Bringing ADIO and CSI together in the same corporate family will
uniquely provide WiSA with the advanced technology to deliver
experiential audio tours and convert vast amounts of events data
into Web 3.0 assets that we will ultimately monetize. For example,
our ADIO crypto anchor and mobile market technology will be used to
trigger user experiences on mobile devices. Our industry first and
exceptionally patent protected vintage WiSA HD quality audio and
holographic assisted virtual tours can now be unlocked in the scale
of and professional management of CSI. Additional opportunities are
expected as we succeed in further monetizing CSI’s events data
through our proprietary and cyber secure Information Data
Exchange®.”
“This strategic transaction marks a major milestone, as we look
forward to becoming part of a dynamic public company that leverages
CompuSystems’ 48-year history as an international leader in the
global events industry,” said Mark LoGiurato, CEO of CompuSystems.
“In combination with newly consolidated Datavault’s ADIO
technology, we will rapidly scale our M3 platform and broaden our
capabilities to provide even greater value to event organizers with
sophisticated new features and advanced Web 3.0 data
analytics.”
The financial terms of the transaction were not disclosed.
Closing is subject to customary conditions and is anticipated to
occur on or about January 31, 2025.
Investor Conference Call
Combined management will host a special conference call to
discuss the transaction at 8:00 am PT / 11:00 am ET, on Monday,
December 30, 2024.
The conference call will be available through a live webcast
found here: Webcast | Investor Call Regarding CSI Acquisition
Those without internet access or who wish to dial in may call:
1-833-366-1124 (domestic), or 1-412-317-0702 (international). All
callers should dial in approximately 10 minutes prior to the
scheduled start time and ask to be joined into the WiSA
Technologies call.
A webcast replay of the call will be available approximately one
hour after the end of the call and will be available for 90 days,
at the above webcast link. A telephonic replay of the call will be
available through January 6, 2025, and may be accessed by calling
1- 877-344-7529 (domestic) or 1- 412-317-0088 (international) or
Canada (toll free) 855-669-9658 and using access code 8628366.
A presentation will accompany the call and be accessible on
Monday, December 30, 2024, under the “Investors” section of WiSA
Technologies’ website.
About CompuSystems
CompuSystems is a premier provider of registration, data
analytics, and lead management services for live events, offering
cutting-edge solutions and unparalleled customer support to clients
in the trade, association, corporate, and government event markets.
With a strong focus on innovation, customer service, and
sustainability, CompuSystems is dedicated to delivering exceptional
event experiences for clients and their attendees. Learn more about
CompuSystems here.
About Data Vault Holdings Inc.
Data Vault Holdings Inc. is a technology holding company that
provides a proprietary, cloud-based platform for the delivery of
blockchain objects. Data Vault Holdings Inc. provides businesses
with the tools to monetize data assets securely over its
Information Data Exchange® (IDE). The company is in the process of
finalizing the consolidation of its affiliates Data Donate
Technologies, Inc., ADIO LLC, and Datavault Inc. as wholly owned
subsidiaries under one corporate structure. Learn more about Data
Vault Holdings Inc. Datavault Inc. and True Luck, Inc. as wholly
owned subsidiaries under one corporate structure. Learn more about
Data Vault Holdings Inc. at www.datavaultsite.com.
ADIO has developed a breakthrough ad-driven monetization
platform that enhances user experience through high-frequency audio
advertising. ADIO uses its patented pioneering data packet
technology to integrate into an audio file for a more robust user
experience. Learn more about ADIO here.
About WiSA Technologies, Inc.
WiSA 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 Technologies, Inc. is a founding
member of WiSA™ (the Wireless Speaker and Audio Association) 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, Inc. The company is headquartered in Beaverton, OR
with sales teams in Taiwan, China, Japan, Korea, and
California.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”), and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements,
include, among others, the Company’s and Data Vault Holdings,
Inc.’s expectations with respect to the closing of its proposed
asset purchase between them (the “DataVault Asset Purchase”), the
timing of the Company’s name change, the Company’s and CSI’s
expectations with respect to the proposed acquisition of CSI by the
Company (the “Acquisition”), including statements regarding the
benefits of the Acquisition, the anticipated timing of the
Acquisition, the implied valuation of CSI, the products offered by
CSI and the markets in which it operates, and the Company’s and
CSI’s projected future results and market opportunities, as well as
information with respect to WiSA’s future operating results and
business strategy. Readers are cautioned not to place undue
reliance on these forward-looking statements. Actual results may
differ materially from those indicated by these forward-looking
statements as a result of a variety of factors, including, but not
limited to: (i) risks and uncertainties impacting WiSA’s business
including, risks related to its current liquidity position and the
need to obtain additional financing to support ongoing operations,
WiSA’s ability to continue as a going concern, WiSA’s ability to
maintain the listing of its common stock on Nasdaq, WiSA’s ability
to predict the timing of design wins entering production and the
potential future revenue associated with design wins, WiSA’s
ability to predict its rate of growth, WiSA’s ability to predict
customer demand for existing and future products and to secure
adequate manufacturing capacity, consumer demand conditions
affecting WiSA’s customers’ end markets, WiSA’s ability to hire,
retain and motivate employees, the effects of competition on WiSA’s
business, including price competition, technological, regulatory
and legal developments, developments in the economy and financial
markets, and potential harm caused by software defects, computer
viruses and development delays, (ii) risks related to the DataVault
Asset Purchase, including WiSA’s ability to close the Asset
Purchase in a timely manner or at all, or on the terms anticipated,
whether due to WiSA’s ability to satisfy the applicable closing or
otherwise, as well as risks related to WiSA’s ability to realize
some or all of the anticipated benefits from the DataVault Asset
Purchase, (iii) risks related to the Acquisition, including WiSA’s
ability to close the Acquisition in a timely manner or at all, or
on the terms anticipated, whether due to WiSA’s ability to satisfy
the applicable closing or otherwise, as well as risks related to
WiSA’s ability to realize some or all of the anticipated benefits
from the Acquisition, any risks that may adversely affect the
business, financial condition and results of operations of CSI,
including but not limited to cybersecurity risks, the potential for
AI design and usage errors, risks related to regulatory compliance
and costs, potential harm caused by data privacy breaches, digital
business interruption and geopolitical risks, and (iv) other risks
as set forth from time to time in WiSA’s filings with the U.S.
Securities and Exchange Commission. The information in this press
release is as of the date hereof and neither the Company nor CSI
undertakes any obligation to update such information unless
required to do so by law. The reader is cautioned not to place
under reliance on forward looking statements. Neither the Company
nor CSI gives any assurance that either the Company or CSI will
achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241226843663/en/
Investors Contact: David Barnard, Alliance Advisors
Investor Relations, 415-433-3777, dbarnard@allianceadvisors.com
WiSA Technologies (NASDAQ:WISA)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
WiSA Technologies (NASDAQ:WISA)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024
