NEW YORK--(BUSINESS WIRE)--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.
“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:
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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.
