DatChat completes merger with Avila Security Corporation

DatChat completes merger with Avila Security Corporation-01

DatChat, Inc. (“DatChat” or the “Company”) (Nasdaq: DATS), a communications and social media company that gives users the ability to communicate, share, and post with privacy and screen capture protection, today announced the Company has closed on the previously announced acquisition of Avila Security Corporation (“Avila Security”). Pursuant to the terms of the agreement and plan of merger (the “Merger Agreement”), the Company issued 1,000,000 shares of restricted common stock, all of which are subject to a lock-up agreement.

The transaction expands DatChat’s intellectual property assets through the acquisition of four issued patents and three pending applications. These assets include blockchain based digital rights management and object sharing technology, including encrypted WebRTC real-time video and audio streaming communications.

“The closing of the acquisition of Avila bolsters DatChat’s significant competitive advantage that will govern key aspects of our Web 3.0 and Metaverse infrastructure initiatives,” said DatChat CEO Darin Myman. “We believe that this acquisition will support our efforts in becoming a leader in Web 3.0 technology development that includes the Metaverse, advertising and communication.”

Also Read: Protecting Enterprises from Black Hat Hackers

Patents Acquired:

  • U.S. Patent 11,151,229 – Secure Messaging Service With Digital Rights Management Using Blockchain
  • U.S. Patent 10,873,852 – POOF: A Secure Mobile Text Message and Object Sharing Application, System, and Method for Same
  • U.S. Patent # 11,100,197 B1 – Secure WebRTC Real-Time Communications Service for Audio and Video Streaming Communications
  • U.S. Patent # 11,176,226 B2 – Secure Messaging Service with Digital Rights Management Using Blockchain Technology

The DatChat Social Network+ app is available as a free download for iOS and Android.

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