Siyata Mobile Completes Merger with Core Gaming to Form AI-Focused Holdings Company

Siyata Mobile Inc., a global developer and vendor of mission-critical Push-to-Talk over Cellular handsets and accessories, successfully completed its merger with Core Gaming, Inc., transforming the company into one focused on AI-driven mobile gaming and AI apps. The all-stock deal valued Core Gaming at $160 million. While Siyata Mobile previously traded under the ticker SYTA on the Nasdaq, the combined company rebranded as Core AI Holdings Inc. and now trades under the ticker CHAI.

As part of the fast-growing mobile gaming industry, we are advancing our next-generation gaming technology and believe that we are well-positioned for growth, said Aitan Zacharin, CEO of Core AI Holdings. Our strategy going forward centers around harnessing the power of artificial intelligence to build scalable offerings that expand our reach beyond gaming and into other verticals to create meaningful value for our shareholders. The idea behind the merger is to transition Siyata from a company that makes critical communications hardware only to one that operates in the AI mobile gaming and AI applications markets.

The global mobile AI gaming market is $126 billion today and is projected to hit $164 billion by 2030 according to market research available at https://www.benzinga.com. Meanwhile, the global AI app market is valued at around $2.6 billion now and is forecasted to grow to $26 billion by 2030. Businesses seeking to enhance efficiencies, automation, productivity and customer service are driving demand for AI-powered apps, while immersive experiences and social engagement are fueling growth in the AI mobile gaming market.

Core Gaming AI says it is well-positioned to capitalize on that growth, given it has already established itself as a leading developer and publisher of immersive mobile and cloud-based gaming solutions. Last year, the company had revenue of $79 million, which it credits to its diverse portfolio of proprietary titles, which at last check was around 2,100. The company boasts over 78 million downloads and a growing global user base of more than 40 million spanning 140 countries. We believe that we are in a prime position to capture significant market share by delivering AI-powered experiences that create deeper engagement and drive broader adoption, said Zacharin.

The new company will be led by Zacharin, who will also serve as chairman. Marc Seelenfreund, founder and former CEO of Siyata Mobile, Luisa Ingargiola, Thomas Tarala, and Mordechai Stenge, will all serve on the new board. The board will be tasked with transitioning the company to an AI-focused gaming and app enterprise. Siyata Mobile will be named Siyata PTT Inc., and will become a wholly-owned subsidiary of Core AI Holdings. Seelenfreund will head that up. AI and mobile gaming are at the intersection of two growing markets, and Core AI Holdings, the melding of Siyata Mobile and Core Gaming, is positioned at the center of it all.