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 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 agreement, Datavault AI will acquire 100% of CyberCatch, which will operate as a subsidiary. CyberCatch founder, Chairman and CEO Sai Huda will serve as president of the subsidiary. The acquisition is expected to strengthen Datavault AI's position in the Web3 ecosystem by integrating advanced cybersecurity capabilities into its existing data monetization and asset tokenization platform.
Datavault AI's cloud-based platform provides solutions in Acoustic Science and Data Science. Its Acoustic Science Division features WiSA, ADIO and Sumerian patented technologies for spatial and multichannel wireless HD sound transmission. The Data Science Division leverages Web3 and high-performance computing for 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 will complement Datavault AI's offerings by ensuring secure handling of digital assets. The combined entity aims to provide a comprehensive solution for businesses seeking to monetize data and digital assets while maintaining robust cybersecurity.
For more details on the announcement, visit the full press release at https://ibn.fm/lktOf. For the latest news on Datavault AI, visit its newsroom at https://ibn.fm/DVLT.
