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December 27, 2024 | BUSINESS WIREEstimated reading time: 2 minutes
WiSA Technologies, Inc., which anticipates closing its acquisition of Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® and changing its name to Datavault Inc. on or about December 31, 2024, has entered into a Definitive Agreement to acquire privately held CompuSystems, Inc. (“CSI”), a premier provider of registration, data analytics, and lead management services for live events. In 2025, CompuSystems’ current management expects CSI to contribute between $13 million and $15 million in revenue and between $3 million and $4 million in EBITDA. Combined management will host a conference call on Monday, December 30th at 11 am ET to discuss the transaction.
“Building on the transformational process underway with our anticipated close of Datavault’s assets, this strategic acquisition will leverage CSI’s vast experience and depth in the events management business with the advanced capabilities of Datavault’s ADIO® platform,” said Brett Moyer, CEO of WiSA Technologies. “Driving new revenue streams and gross margin expansion, we expect strong revenue and EBITDA contributions in 2025 from this acquisition.”
Nathaniel T. Bradley, Data Vault Holdings’ CEO, said, “In early December 2024, we announced we had embedded ADIO in CSI’s M3 Expo Wallet App, with a planned roll out starting in January 2025. Recognizing the strengths and mutual advantages of this collaboration, WiSA entered into an agreement to acquire CSI. Bringing ADIO and CSI together in the same corporate family will uniquely provide WiSA with the advanced technology to deliver experiential audio tours and convert vast amounts of events data into Web 3.0 assets that we will ultimately monetize. For example, our ADIO crypto anchor and mobile market technology will be used to trigger user experiences on mobile devices. Our industry first and exceptionally patent protected vintage WiSA HD quality audio and holographic assisted virtual tours can now be unlocked in the scale of and professional management of CSI. Additional opportunities are expected as we succeed in further monetizing CSI’s events data through our proprietary and cyber secure Information Data Exchange®.”
“This strategic transaction marks a major milestone, as we look forward to becoming part of a dynamic public company that leverages CompuSystems’ 48-year history as an international leader in the global events industry,” said Mark LoGiurato, CEO of CompuSystems. “In combination with newly consolidated Datavault’s ADIO technology, we will rapidly scale our M3 platform and broaden our capabilities to provide even greater value to event organizers with sophisticated new features and advanced Web 3.0 data analytics.”
The financial terms of the transaction were not disclosed. Closing is subject to customary conditions and is anticipated to occur on or about January 31, 2025.
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