WiSA Technologies, Inc. - WISA STOCK NEWS

WiSA Technologies, Inc. (NASDAQ: WISA) has appointed Stanley Mbugua as Vice President of Finance, effective September 30, 2024. He will also assume the role of Chief Accounting Officer on November 30, 2024. Mbugua, 54, brings extensive experience from multinational technology companies, having previously served as Chief Accounting Officer at Presto Automation, Inc. and Skillz, Inc.

As part of his appointment, Mbugua was granted 70,000 shares of restricted stock as an inducement, vesting over a 36-month period starting December 20, 2024. CEO Brett Moyer expressed confidence in Mbugua's ability to shape WiSA's financial future during this transitional phase aimed at significant growth.

Data Vault Holdings has partnered with CLEAR, a security identity platform, to enhance its Know Your Customer (KYC) solution. This collaboration aims to address growing KYC needs, particularly in the NIL (Name, Image, Likeness) era. By integrating CLEAR's technology, Data Vault Holdings will improve security, compliance, and trust for new user accounts, especially in securing NIL rights and financial transactions.

The partnership is timely, as global AML and KYC spending is projected to grow from $3.1 billion in 2023 to $6.8 billion by 2028, with a CAGR of 17%. This collaboration will combine Data Vault Holdings' digital twinning and data monetization technology with CLEAR's identity verification platform, enhancing KYC accuracy and efficiency across various sectors.

Notably, Data Vault Holdings is under a definitive asset purchase agreement to sell its Datavault® and ADIO® IP and IT assets to WiSA Technologies, Inc. (NASDAQ: WISA). The closing of this transaction is expected before December 31, 2024, subject to customary conditions and stockholder approval.

Data Vault Holdings, Inc.®, under a definitive asset purchase agreement with WiSA Technologies, Inc. (NASDAQ: WISA), has launched VerifyU, a blockchain-based academic credential verification platform, in collaboration with Arizona State University (ASU). VerifyU offers secure, real-time verification of academic credentials, addressing the needs of students, educational institutions, and employers.

Key points:

• ASU is the first to utilize VerifyU's blockchain and AI technology
• Datavault aims to license VerifyU to 20-30 educational institutions in 2025
• The global education verification service market is projected to reach $177 billion by 2030
• VerifyU plans to charge students a one-time fee for lifetime access
• Revenue will be shared between Datavault and participating universities

Datavault Holdings, Inc.®, set to be acquired by WiSA Technologies, Inc. (NASDAQ: WISA), will present at the New York Scientific Data Summit (NYSDS) 2024 on September 16-17. The company will showcase its PhytoIntel platform, focusing on Digital Twin technologies for bioenergy crop optimization. CEO Nathaniel Bradley will discuss advancements in Bioenergy Digital Twins. The summit features experts from various sectors, exploring topics like model accuracy and machine learning integration. McKinsey projections highlight the growing importance of Digital Twins, forecasting a 60% annual market growth to $73.5 billion by 2027. The technology is becoming important for supply chain transformation and advanced industries.

WiSA Technologies, Inc. (NASDAQ: WISA) announces its participation in the 2024 Gaming, Media & Entertainment Virtual Conference, presented by Maxim Group on Tuesday, September 17th, 2024, at 9 am ET. CEO Brett Moyer and Data Vault CEO Nate Bradley will represent the company. This follows WiSA's recent announcement of a definitive agreement to acquire assets of Data Vault Holdings, Inc.®, aiming to form a data technology & licensing company.

The virtual conference will be hosted on M-Vest.com, requiring membership registration to attend. WiSA's asset purchase agreement with Data Vault Holdings Inc.® is expected to close before December 31, 2024, subject to stockholder approval and customary conditions. Investors can access more information and presentation materials on WiSA Technologies' website.

WiSA Technologies (NASDAQ: WISA) announces that its WiSA E wireless immersive audio software has been embedded onto an Amlogic reference design for set-top boxes. Amlogic will showcase this WiSA-E-enabled STB reference design at the IBC show in Amsterdam. The 2.1-capable design runs on Amlogic's latest set-top box SoC with their Wi-Fi chip, using the Android 14 operating system. WiSA E supports multiple audio channels and formats like Dolby Atmos and Google's IAMF. This implementation leverages WiSA Express, allowing a fast 90-day development cycle without hardware changes. The technology aims to bring cost-effective, cable-free, high-quality multichannel audio to various source devices.

WiSA Technologies, Inc. (NASDAQ: WISA) has announced its participation in several upcoming investor conferences. The company will present at the Gateway Conference on September 5, 2024, in San Francisco, the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11, 2024, in New York City, and the Lake Street BIG8 Best Ideas Growth Conference on September 12, 2024, in New York City.

Additionally, WiSA Technologies has entered a definitive agreement to acquire assets of Data Vault Holdings, Inc.®, forming a data technology and licensing company. This acquisition, subject to stockholder approval, is expected to close before December 31, 2024. Investors can access more information about these events and the business combination on the company's website.

WiSA Technologies (NASDAQ: WISA) has executed a $210 million definitive agreement to purchase assets from Data Vault Holdings Inc. The deal includes High-Performance Computing (HPC) software and Acoustic Technologies IP, creating a licensing and technology company with an extensive patent portfolio. The purchase consists of 40 million shares of common stock at $5 per share plus a $10 million 3-year Note.

The resulting company will offer two solutions: Data Sciences, licensing HPC software applications and Web 3.0 data management, and Acoustic Sciences, licensing spatial and multichannel HD sound transmission. The transaction is expected to close by December 31, 2024, subject to stockholder approval.

WiSA Association, a subsidiary of WiSA Technologies, Inc. (NASDAQ: WISA), has announced significant progress in its WiSA E licensing program. The company has secured agreements covering 43% of the Android-based HDTV market, which represents the largest segment in the industry. Android powers over 37% of all HDTV units, double the share of the second most popular OS.

With this achievement, WiSA is now focusing on building an ecosystem of WiSA E-enabled speaker systems to support its HDTV licensees. The company aims to replicate the success of its WiSA HT technology, which has been implemented by over 25 companies. WiSA E includes a full suite of audio features and can be implemented across four major HDTV SoC providers.