Eva Live Acquires Majority Stake in Airbeam Wireless for $16 Million
Eva Live Inc. is set to acquire a 51% stake in Airbeam Wireless Technologies for approximately $16 million. This significant acquisition aims to enhance Eva Live's technological capabilities and is expected to drive advancements in AI-driven communication systems and Smart City infrastructures.
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Eva Live Inc. (NASDAQ:GOAI) has signed a Letter of Intent to acquire a 51% stake in Airbeam Wireless Technologies for $16 million, with an option for the remaining 49%. This acquisition values Airbeam at approximately $16 million.
The transaction comes as Eva Live's stock is priced at $2.45, reflecting a 67% decline year-to-date amid market volatility. Airbeam's wireless modules enable multi-gigabit wireless backhaul and are integral to AI processing and high-bandwidth applications.
Eva Live recorded a 60% revenue increase to $17.3 million in the past year, despite being unprofitable. Following the acquisition, Eva Defense aims to accelerate development in areas such as autonomous drone communication and Smart City infrastructure. The deal provides access to over 260 patents developed over two decades with investments exceeding $150 million.
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