Datavault AI Inc. (NASDAQ: DVLT), a provider of data monetization, credentialing, digital engagement and real-world asset tokenization technologies, 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, according to the press release.
Under the terms of the agreement, CyberCatch will operate as a subsidiary of Datavault AI, with founder, Chairman and CEO Sai Huda serving as president of the subsidiary. The acquisition is expected to enhance Datavault AI's capabilities by integrating CyberCatch's AI-powered cybersecurity solutions with its own data monetization and tokenization platform. This move positions the combined entity to address growing demands for secure data handling and compliance in the Web 3.0 environment.
Datavault AI, headquartered in Philadelphia, PA, is known for its cloud-based platform that provides comprehensive solutions in its Acoustic Science and Data Science Divisions. The Acoustic Science Division features patented technologies such as WiSA, ADIO and Sumerian, which enable spatial and multichannel wireless HD sound transmission. The Data Science Division leverages Web 3.0 and high-performance computing for experiential data perception, valuation and secure monetization. The company's Information Data Exchange enables digital twins and licensing of name, image, and likeness by attaching physical objects to immutable metadata objects.
CyberCatch's AI-enabled platform offers continuous compliance monitoring and cyber risk mitigation, which are critical for organizations handling sensitive data. By combining these capabilities, Datavault AI aims to provide a more robust solution for industries such as fintech, healthcare, and real estate, which require stringent data security and regulatory compliance.
Investors can find more information about Datavault AI in the company's newsroom at https://ibn.fm/DVLT. The full press release is available at https://ibn.fm/lktOf.
