Data443 Risk Mitigation Announces Letter of Intent with TechCo for Strategic Acquisition

Data443 Risk Mitigation, Inc. recently disclosed that on December 12, 2024, the company entered into a binding letter of intent with a technology division within a Nasdaq-listed entity, referred to as TechCo. The primary goal of this agreement is to acquire an interest in TechCo, marking Data443’s planned expansion into the technology sector.

The agreement outlines that Data443 will purchase shares of the yet-to-be-created Series B Preferred Stock of TechCo through a transaction involving two existing leading product capabilities of Data443. The finalization of this deal is contingent upon the preparation and execution of definitive documents.

CEO Jason Remillard duly signed the report on behalf of Data443 Risk Mitigation on December 18, 2024. The company’s contact information, including the address of its principal executive offices in Research Triangle Park, North Carolina, and its telephone number, was also provided in the filing.

Data443 is classified as an emerging growth company and has chosen not to use the extended transition period for complying with new financial accounting standards. The filing did not specify any third-party funding secured for this acquisition agreement or any strategic partnership initiatives.

The contents of the filing emphasize the Company’s commitment to strategic expansion by venturing into the technology space through this proposed acquisition. Successful execution of this strategic move could potentially enhance Data443’s market positioning and diversify its product offerings.

This news has sparked interest among investors and industry analysts who are keen to observe how this potential acquisition might impact Data443’s growth trajectory in the technology sector. The financial terms of the deal were not disclosed in the initial filing, leaving investors curious about the implications of this agreement on the company’s financial health and long-term strategic goals.

Investors are advised to stay tuned for further updates on this development as more information is expected to be released in the coming weeks.

This press release does not constitute investment advice, and investors are encouraged to conduct their own research and due diligence before making any financial decisions.

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Disclaimer: The information provided in this news article is based on the 8-K SEC filing by Data443 Risk Mitigation, Inc. dated December 12, 2024. This article is not an endorsement or recommendation to buy or sell any securities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Data443 Risk Mitigation’s 8K filing here.

About Data443 Risk Mitigation

Data443 Risk Mitigation, Inc provides data security and privacy management solutions in the United States. The company offers Cyren Threat Intelligence Service that provides security, response, software, and services; Cyren Inbox Security for Microsoft 365, which prevents user access to malicious links and attachments; Ransomware Recovery Manager to recover a workstation upon infection to the last known business-operable state; Data Identification Manager, a data classification and governance technology; Data Archive Manager for enterprise data retention management and archiving; and Sensitive Content Manager, a cloud-based platform for managing, protecting, and distributing digital content.