Meta Materials to Sell Its Authentication Business to Authentix

Following the news that Meta Materials had laid off 80% of its workforce and was looking for buyers of the business (see HN June 2024), a filing at the United States Securities and Exchange Commission states that it has agreed to sell most of its authentication business assets (Nanotech Security Corporation, or NCS) to security solutions provider Authentix for $10 million, excluding certain assets such as cash and real estate.