Datavault AI to Acquire API Media
By Kelly CloonanDatavault AI plans to acquire audio and IT services provider API Media in an all-cash transaction.The data tokenization and monetization technologies company said Tuesday the deal aims to improve its enterprise data offerings, expand its artificial intelligence capabilities and offer new monetization opportunities.The API brand will remain with added capabilities and technologies patented by Datavault AI. The New Jersey-based company provides audio and visual technologies as well as IT services for large sporting events and enterprise clients.Datavault AI expects the acquisition to close in December. The companies didn't disclose the financial terms of the deal.The acquisition is part of Datavault's aim to scale its proprietary data-monetization system, Chief Executive Nathaniel Bradley said.The added capabilities position Datavault for market share gains across the enterprise data, advertising and AI services industries, the company said.Write to Kelly Cloonan at [email protected]