WISA Technologies Stock Jumps On CompuSystems Acquisition Amid Rebranding: Retail Turns Bullish
By Stocktwits Inc | First Published Dec 27, 2024, 12:21 AM ISTThis comes after WiSA announced plans to rebrand as a Web 3.0 company called Datavault Inc. after gaining stockholder approval for acquiring Data Vault Holdings' intellectual property.
Shares of WiSA Technologies Inc. (WISA) jumped over 11% in mid-day trade on Thursday after it announced the acquisition of CompuSystems, a privately held company focused on management services for live events.
The acquisition is expected to bring revenue between $13 million and $15 million, alongside projected EBITDA contributions of $3 million to $4 million in 2025.
Latest Videos
Nathaniel T. Bradley, CEO of Data Vault Holdings, emphasized the acquisition’s potential to enhance WiSA’s technological portfolio.
In December, WiSA began embedding its ADIO technology into CompuSystems' M3 Expo Wallet App, setting the stage for a January 2025 rollout.
Bradley highlighted the opportunity to combine WiSA's cutting-edge audio technology with CompuSystems' event data capabilities to create Web 3.0 assets.
He also pointed out the potential for monetization through technologies such as WiSA’s cyber-secure Information Data Exchange and holographic-assisted virtual tours.
On Stocktwits, retail sentiment around the WISA flipped to ‘bullish’ from ‘neutral’ a day ago, and chatter jumped to ‘extremely high’ from ‘normal’ levels as users on the platform applauded the acquisition of CompuSystems.
https://stocktwits.com/Dipps/message/597873997
https://stocktwits.com/Trinitrade/message/597885736
The transaction's financial terms remain undisclosed, but the deal is expected to close around Jan. 31, 2025, pending customary conditions.
This follows a previous stockholder-approved acquisition of Data Vault Holdings' intellectual property for 40 million shares of WiSA-restricted common stock and a $10 million three-year promissory note.
After completing these transactions, WiSA plans to rebrand as Datavault Inc., focusing on two key areas – data technology and licensing for Web 3.0 applications and high-performance sound solutions.
The company’s new strategy aims to broaden its market reach, serving industries ranging from biotech to sports and entertainment.
While Thursday’s stock movement provides a short-term boost, WiSA shares remain down over 87% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Read also: KULR Stock Hits Six-Year High On First-Ever Bitcoin Buy Worth $21M: Retail Eyes More Upside In 2025
subscribe to Asianet Newsable WhatsApp channel by clicking here.