- Siyata Mobile (SYTA, Financial) announces a transformative $160M merger with Core Gaming Inc., anticipated to close in Q2 2025.
- Core Gaming brings significant assets, including 43M monthly active users and $80M in 2024 revenue.
- A special stock dividend ensures legacy shareholders retain at least 10% of the combined entity.
Siyata Mobile (SYTA) has revealed a strategic $160 million merger with Core Gaming Inc., set to finalize in the second quarter of 2025. This merger positions Siyata to make a significant entry into the lucrative $126 billion mobile gaming market. The merger was officially announced on February 26, 2025.
Core Gaming, independently assessed at a valuation of $185.9 million by ValueScope, strengthens the merger with impressive metrics, including 43 million monthly active users and 790 million downloads. In 2024, Core Gaming generated a robust $80 million in revenue, highlighting its monetization capabilities and market presence.
The merger agreement includes a protective measure for existing shareholders by offering a special stock dividend, ensuring that legacy shareholders maintain at least 10% of the newly combined entity. The issuance of shares is linked to a 10-day Volume Weighted Average Price (VWAP), which could potentially enhance shareholder returns depending on Siyata's stock performance.
Siyata's stock (SYTA, Financial) has seen significant volatility since the merger announcement, trading between $1.20 and $7.00. The company maintains a low float of under 4 million shares and has demonstrated strong business performance with a 41.3% revenue growth in 2024, supported by strategic partnerships with leading carriers.
This merger marks a pivotal shift in Siyata's business model, leveraging Core Gaming's extensive user base to pivot into the mobile gaming industry. It presents both significant opportunities and integration challenges as Siyata navigates this new market terrain.
