Myseum, a New Brunswick-based privacy and social media technology company, on Monday announced the completion of a strategic divestiture, selling its minority ownership interest in RPM Interactive, Inc. for approximately $6.5 million.
The sale was executed as part of the 100% acquisition of RPM Interactive by Avalon GloboCare Corp. for a total purchase price of $19.5 million. Myseum held an approximately 34% ownership interest in RPM. Under the terms of the full acquisition, Avalon has agreed to issue 19,500 shares of Series E Non-Voting Convertible Preferred Stock to RPM’s stockholders.
RPM Interactive developed the Catch-Up Software-as-a-Service (SaaS) platform, an automated system that intelligently sources relevant video clips, generates human-like AI commentary, and publishes finished content with an engaging on-screen avatar to all major platforms.
Darin Myman, CEO of Myseum, stated that the transaction marks a critical strategic step for the company.
“This transaction completes Myseum’s divestiture of its interest in RPM Interactive and enables us to focus our resources on expanding our core Picture Party business,” Myman said. “This strategic step further strengthens Myseum’s position as we pursue our primary growth initiatives in the interactive media space.”
Myseum, Inc., formerly known as DatChat Inc., is focused on innovative user platforms. Its primary focus moving forward will be on ‘Picture Party by Myseum,’ a platform designed to provide a secure and dynamic way for users to share photos and videos with groups. The company’s flagship product, Myseum, offers a next-gen social sharing platform backed by patented technology for secure content management and the creation of a digital legacy.
