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VANCOUVER - Siyata Mobile Inc. (NASDAQ:SYTA), a micro-cap technology company with a market value of $2.18 million awaiting regulatory approval for a merger with Core Gaming, Inc., announced Monday an arrangement between Core Gaming and Fire Rhino Studios to collaborate on developing casual gaming titles. According to InvestingPro data, Siyata has shown strong revenue growth of 41.59% over the last twelve months. This partnership aims to leverage Fire Rhino’s expertise in casual puzzle games to produce new gaming experiences.
Fire Rhino, recognized for its innovative casual games like "Solitaire Aces" and "Block Sort Temple," will work alongside Core Gaming to create games that blend entertainment with strategic elements. Aitan Zacharin, CEO of Core Gaming, expressed enthusiasm about the collaboration, stating their goal to launch titles that encourage critical thinking while providing fun.
Core Gaming, headquartered in Miami, Florida, is an AI-driven mobile gaming developer and publisher with a global presence, having achieved over 600 million downloads and reaching more than 40 million users across 140 countries. The company prides itself on empowering other developers to create player-focused apps and games. While Siyata’s stock has recently shown positive momentum with an 11.54% gain over the past week, InvestingPro analysis reveals 14 additional key insights about the company’s financial health and market position. Get the complete picture with InvestingPro’s comprehensive research report, part of the coverage of 1,400+ US stocks.
The definitive merger agreement between Core Gaming and Siyata Mobile, which trades on the Nasdaq Capital Market under the ticker SYTA at a relatively low Price/Book multiple of 0.22, is still pending customary closing conditions and regulatory approvals. The company maintains a current ratio of 1.03, indicating adequate short-term liquidity to meet immediate obligations.
This initiative between Core Gaming and Fire Rhino underscores the ongoing efforts within the gaming industry to innovate and expand the reach of casual gaming. The information in this article is based on a press release statement.
In other recent news, Siyata Mobile Inc. has announced a definitive merger agreement with Core Gaming, Inc., valued at $160 million. This merger, expected to finalize in the second quarter of 2025, will see Core Gaming become a wholly-owned subsidiary of Siyata. Siyata shareholders are set to benefit from a special stock dividend, ensuring they own at least 10% of the combined entity post-merger. The merger has been unanimously approved by both companies’ boards and is pending regulatory approval. Additionally, Siyata’s SD7 Ultra device is now part of T-Mobile’s initiative to enhance communication tools for first responders, marking a significant step in improving emergency response times.
Furthermore, Siyata Mobile has entered a distribution agreement with IP Access International, which will distribute Siyata’s SD7 rugged devices to industries like fire departments and energy companies. This collaboration aims to provide robust communication solutions in challenging environments through IP Access’s SuperGIG™ network. Siyata is also preparing for an upcoming press conference to discuss these significant developments, with details to be announced soon. These announcements reflect Siyata Mobile’s ongoing efforts to expand its market presence and enhance communication solutions for critical sectors.
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