The Datavault Intellectual Property Portfolio
Adds Coveted Blockchain Utilities and Patented DataValue®
and DataScore® Supercomputer Software Applications
These Datavault Patents Comprise Part of the
Asset Purchase by WiSA Technologies, Inc.
Data Vault Holdings, Inc.®, a private company leading the way in
data visualization, valuation, and monetization, which has entered
into a definitive asset purchase agreement to sell its Datavault®
and ADIO® IP and IT assets to WiSA Technologies, Inc. (“WiSA
Technologies” or the “Company”) (NASDAQ: WISA), a leading provider
of immersive, wireless sound technology for intelligent devices and
next-generation home entertainment systems, today announced its
Datavault operation has received three new patents and one new
allowance from the United States Patent Office and related
International Publication of its now patented innovations.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241030615306/en/
“By leveraging data aggregation and strategy-based automation
intelligence, we are providing a faster, more accurate way to
generate data including tax returns and other perfunctory and
automated data sources,” stated Nathaniel Bradley, CEO of Data
Vault Holdings. “These newly issued and allowed patents to Data
Vault Holdings are testament to our foresight in recognizing the
need for automated meta layer solutions across industries,
including a strong presence in professional and legal services,
fintech, and life sciences. The technology provides a foundation
for understanding the value of data we create, and even the data we
produce in our daily lives, which can be valuable and securely
monetized. These patents add to our extensive portfolio of
intellectual property, which showcases the diversity of our
solutions across multiple sectors.”
“Datavault’s dedication to innovation within blockchain,
machine learning, and supercomputer-enabled artificial intelligence
has yielded impressive patent and trademark portfolios,”
said Brian Owens, a veteran patent attorney from Goodhue, Coleman
& Owens, P.C. “DataValue, DataScore and The Information Data
Exchange represent technology inventions with great utility in many
fields, and it’s gratifying to see these inventions validated
through these recent issuances and publications of Data Vault
Holdings.”
Patents Received and Allowed Datavault received the
following United States Patents:
- Platform for Management of User Data, U.S. Patent
12,100,025, was issued on September 24, 2024, and a U.S. Patent
11,960,622 was issued on April 16, 2024.
- These are Datavault’s second and third patents received
cover blockchain and secure token driven data scoring,
valuation, visualization and monetization on its patented
Information Data Exchange®.
- Triggered Responses to Real-time Electroencephalography,
U.S. Patent 12,020,787 was issued on June 25, 2024. It is the
second in a family of life sciences patents with innovations in
Brain Computer Interface BCI technologies which the Datavault
invention teaches a secure, privacy protected and non-invasive
neurological data capture and the integration of automated data
capture through mobile biometric sensors.
In addition, on September 10, 2024, Datavault received notice of
allowance for its Platform and Method for Preparing a Tax
Return, U.S. patent application number 17/507,459. This
blockchain solution provides more efficient scoring, valuation,
visualization of and Information Data Exchange monetization of
accounting and tax data and enables the creation of tax returns. It
allows independent business operators to automate via artificial
intelligence and machine learning, enhanced systems to create,
anonymize and monetize data through Datavault’s Information Data
Exchange®.
Markets for These Innovations SkyQuest projected in
September 2024 that the Data Monetization Market will attain a
value of $17 billion by 2031, with a CAGR of 10.7% from 2024 to
2031. Growing adoption of digital transformation initiatives around
the world and rising demand for data across all industry verticals
are fueling the demand for data monetization. Increasing
realization of the importance of data in business operations and
success is also expected to favor data monetization market
development across the study period and beyond.
The global neurology market size was $3.3 billion in 2023,
growing to $3.6 billion in 2024, and expected to reach around $71
billion by 2033, expanding at a compound annual growth rate of 7.6%
from 2024 to 2033.1 Neuralink (Link), a private company founded by
Elon Musk, has achieved a market cap in excess of $5.0 billion.2
Neuralink is developing a fully-implanted, wireless, high-channel
count, brain-computer interface (BCI). Datavault’s innovations
provide for a non-evasive augmentation to BCI systems as well as
standalone data display, valuation and monetization
capabilities.
Automation is rapidly transforming the tax preparation industry.
According to Deloitte’s Tax in a Data-Driven World report, many
organizations are increasingly adopting automation technologies to
manage large volumes of financial data. In fact, 41% of
organizations have already implemented automation tools for
tax-related processes3 reflecting the growing need for solutions
that reduce manual effort and improve speed and accuracy. As tax
preparation becomes more complex with evolving financial
regulations, automated platforms like those based on Data Vault
Holding’s new patent will play a critical role in reducing the time
and resources required to manage tax data.
1 Neurology Market Revenue and Trends, Precedence
Research, Press Release July 19, 2024 2 Musk's
Neuralink valued at about $5 billion despite long road to market |
Reuters, June 5, 2023 3 Deloitte: Tax in a Data-Driven
World#Figure 1:
https://www.deloitte.com/content/dam/assets-shared/docs/services/tax/2024/dttl-tax-technology-report-2023.pdf
Summary of WiSA Technologies & Data Vault Holdings
Proposed Asset Purchase As announced on September 4, 2024, WiSA
Technologies, Inc. entered a definitive asset purchase agreement to
purchase the Datavault® and ADIO® intellectual property and
information technology assets of privately held Data Vault Holdings
(the “Asset Purchase”). Subject to customary closing conditions and
approval by the stockholders of WiSA Technologies, the closing is
expected in Q1 2025. A webcast about the transaction is accessible
under the Investors section of WiSA Technologies’ website.
About Data Vault Holdings Inc. Data Vault Holdings is a
technology holding company that provides a proprietary, cloud-based
platform for the delivery of blockchain objects. Data Vault
Holdings 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 here.
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’ (“Datavault”)
expectations with respect to the proposed asset purchase (the
“Asset Purchase”) between them, including statements regarding the
benefits of the Asset Purchase, the anticipated timing of the Asset
Purchase, the implied valuation of Datavault, the products offered
by Datavault and the markets in which it operates, and the
Company’s and Datavault’s projected future results and market
opportunities. 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 are not limited
to: (i) risks and uncertainties impacting WiSA’s business
including, risks related to WiSA’s 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 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 conditions and
secure stockholder approval from its stockholders or otherwise, as
well as risks related to WiSA’s ability to realize some or all of
the anticipated benefits from the Asset Purchase, (iii) any risks
that may adversely affect the business, financial condition and
results of operations of Datavault, 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 Datavault 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 Datavault gives any
assurance that either the Company or Datavault will achieve its
expectations.
This press release shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed Asset Purchase. This press release shall
not constitute an offer to sell, or the solicitation of an offer to
buy, nor will there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act, or an
exemption therefrom.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241030615306/en/
Investors Contact for WiSA Technologies and Data Vault
Holdings: David Barnard, LHA Investor Relations, 415-433-3777,
wisa@lhai.com
WiSA Technologies (NASDAQ:WISA)
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