YAHOO FINANCE - DatChat, a privacy-focused social media, has closed on the previously announced acquisition of Avila Security. The Company issued 1M 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 4 issued patents and 3 pending applications. These assets include blockchain-based digital rights management and object sharing technology, including encrypted WebRTC real-time video and audio streaming communications.
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