Denver, Colorado--(Newsfile Corp. - April 22, 2025) - 247marketnews.com, a pioneer in digital media dedicated to the swift distribution of financial market news and information, highlights key developments from Siyata Mobile's (NASDAQ: SYTA) ("Siyata") recently filed SEC Form 20-F Annual Report for 2024. The report emphasizes Siyata's transformative merger with Core Gaming, announced on February 26, 2025, marking a strategic leap into the $126 billion mobile gaming industry.
Merger Details and Strategic Impact
In exchange for Core Gaming's outstanding common stock, Siyata will issue common shares based on an exchange ratio calculated as $160,000,000 divided by the volume-weighted average closing price of Siyata's common shares on Nasdaq for the 10-day trading period preceding the merger's effective time. The merger's closing, expected this quarter, pending regulatory approval.
The merger has a special provision for Siyata shareholders "In the event that the number of "Core"'s common shares (the "Legacy Siyata Shares") held by "Core" stockholders who are "Core" stockholders immediately prior to the Effective Time (the "Legacy Stockholders") would equal, following issuance of the merger consideration shares, less than 10% of the issued and outstanding common shares of Siyata on a fully diluted basis, then Siyata shall declare a stock dividend on the Legacy Siyata Shares outstanding as of the record date that is one business day prior to the Effective Time, such that the number of Siyata common shares held by the Legacy Stockholders represents at least 10% of the then-issued and outstanding common shares of Siyata. The stock dividend, if any, shall be paid on a date that is no more than six months after the Effective Time.
Core Gaming logo
Core Gaming: A Mobile Gaming Powerhouse
Core Gaming, founded in 2024 and headquartered in Miami, Florida, is a leading mobile gaming developer with over 43 million monthly active users and 790 million downloads across 2,100+ games in 140 countries. Its 2024 acquisition of Newbyera Technology Limited fueled its growth, generating $80 million in revenue. Core Gaming's AI-driven platform, including its proprietary BI suite, reduces game production time by 40% and boosts content output by 50%, leveraging advanced language, voice, image, and video models. The company's partnerships with platforms like Applovin and Google drive ad-based revenue, while its AI marketing tools optimize user acquisition and monetization.
Core's Industry and Market Opportunity
Over the last 15 years, mobile apps have become a major part of consumers' lives. Consumers today have access to a diverse range of mobile applications, allowing users to seamlessly access entertainment, shopping, healthcare, and other services. The rapid growth of mobile gaming, as one category of entertainment apps, has created opportunities for mobile game developers, as well as challenges for them in reaching consumers and monetizing their games in an increasingly crowded marketplace. Most developers lack access to the marketing and monetization tools required to stand out among countless competing mobile games. According to Statistica, the mobile gaming industry is projected to reach $126 billion in 2025, with a compound annual growth rate (CAGR) of 5.6% from 2025 to 2029, leading to a projected market value of $157 billion by 2029. The number of users worldwide is anticipated to reach 2.4 billion by 2029. Estimates show that gamers spend in excess of seven hours per week gaming, a figure that continues to grow.
Gaming on mobile devices has seen the greatest growth among the various gaming platforms, such as consoles and computers, largely driven by affordability of the devices and availability of content. According to Statistica, mobile gaming has its largest footprint in Southeast Asia, where mobile devices have seen substantial proliferation over the last decade, whereas console gaming has its largest footprints in North America and Europe, where disposable income is higher than in other regions. Within mobile gaming, the fastest growth has been among free-to-play games, where app developers earn revenue from advertising displayed within the game.
Core's Competitive Advantages
We believe that Core Gaming has a number of competitive advantages, first among them our track record of successfully launching and monetizing mobile games, which helps us to stand apart from competitors. Contributing to this track record are our high level of expertise in the mobile games ecosystem, our extensive relationships with third parties in the mobile game industry, and our proven ability to quickly expand into new markets and offerings. And underlying this success is our proprietary BI platform, with its unique algorithms and AI technologies that enable us to reach, with exceptional efficiency, a large number of target customers in diverse cultures and geographies for the many games we publish.
Core Gaming's AI-driven technology, which boosted content production by 50% and reduced production time by 40%, is set to redefine Siyata's growth trajectory. The merger, valued at $160 million by ValueScope, LLC, ensures that legacy Siyata shareholders retain a minimum 10% ownership in the combined entity through a special stock dividend within six months post-closing.
Siyata logo
Siyata Mobile (NASDAQ: SYTA)
A key aspect of the merger that's often overlooked, is that Siyata Mobile will continue to be a global developer of Push-to-Talk over Cellular (PoC) handsets and accessories, and it has focused on positioning its rugged communication devises business for future growth. In addition to Siyata's strategic reshoring of PoC handset production to the U.S., Siyata enhanced its profile within the major domestic carriers and those efforts are bearing fruit.
For example, the annual report states, "On February 25, 2025, the Company issued a press release announcing that the Company's SD7 Ultra was cited in a press release issued by T-Mobile that announced four major moves showing how T-Mobile is taking its support of first responders to the next level."
Please click here to view ValueScope's Core Gaming valuation report.
To review the SEC Form 20-F filing, please go to https://ir.siyata.net/sec-filings/ or www.sec.gov.
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About Siyata Mobile
Siyata Mobile Inc. is a leading global developer and provider of cellular communications solutions for enterprise customers, including first responders, transportation, logistics, and more. Their mission is to enable effective communication in critical moments through innovative technology.
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