News Release
Siyata Mobile Inks New Deal For Its Push-to-Talk Devices As It Goes After Private Security Market
Siyata Mobile Inc.
By Meg Flippin, Benzinga Communication is key among security professionals. Whether they’re protecting a building or critical infrastructure, being able to convey messages in real-time all the time is paramount. Two-way Land Mobile Radio (LMR) has been the main way of doing it. However, that hasn’t proven to be that reliable. A better alternative according to its manufacturers, one that’s gaining traction in the market, is Push-to-Talk over Cellular (PoC). It is clearer and more reliable, say manufacturers. It's also the sweet spot of Siyata Mobile (NASDAQ: SYTA), which recently announced a deal in partnership with Apex Wireless that underscores its commitment to expanding its customer base and providing high-quality solutions for security professionals. The Vancouver, British Columbia, global vendor of Push-to-Talk over Cellular devices and cellular signal booster systems seems to be making a splash in the private security industry with its SD7 handsets and VK7 vehicle kits. SD7 is a rugged handset that enables Push-to-Talk (PTT) conversations with co-workers over public cellular networks. SD7 operates with a SIM card on public cellular networks, giving users nationwide coverage. Siyata Mobile says its handsets deliver crystal-clear audio quality. The SD7 is rugged and water resistant, making it ready for any environment. Then there’s Siyata’s VK7 all-in-one vehicle kit. The connect-and-go in-vehicle solution pairs with the SD7, turning the vehicle into a mobile hub. Making A Splash Siyata seems to be winning customers and expanding its sales. Its most recently announced deal in September was with Trans-West Security Systems, a physical private security company based in Bakersfield, CA, that has been providing security services for over 50 years. Siyata reports that Trans-West needed to replace its outdated LMR radios, as well as renew all licensing agreements, and that this was proving to be a very costly exercise. Trans-West also experienced communication blackouts with their field employees, says Siyata, due to LMR repeaters not being available in certain areas of operation. Enter Siyata’s PTT solutions. Following a demo period, Trans-West is deploying hundreds of Siyata’s devices in an initiative to replace its aging two-way radios more cost-effectively. “Businesses and communities have a growing need for comprehensive security solutions that may include increasing private security as crime rates rise and criminal activities become more diversified and complex,” said Marc Seelenfreund, CEO of Siyata, in a press release announcing the deal. “Our ruggedized devices operating over a highly reliable cellular network equip private security personnel with clear communication channels to help them perform their job duties to keep people and other assets safe.” Apex Wireless, based in Austin, TX, is acting as the reseller in the transaction. Protection In Demand The private security industry represents a big opportunity for Siyata. The market is projected to reach $385.32 billion by 2032, growing at a CAGR of 5.7% between now and then. Driving the need for more security professionals and better communications are fluctuating crime rates and trends in the types of crimes being committed. Some cities and municipalities are dealing with tight budgets and local police forces that may not be fully equipped to handle an unexpected influx of crime. Many businesses are turning to private security companies to pick up the slack, driving demand and, thus, sales. That’s certainly been the case for Siyata which expects to have a strong second half of 2024 with more than $7 million in confirmed orders slated to be filled. “We expect the third quarter will be a break-out quarter with high double-digit year-over-year growth as the delivery of orders accelerates,” Seelenfreund said in a press release reporting second-quarter results in August. “We have achieved 'stocked' status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond." Siyata Is Everywhere Beyond the private security market, Siyata’s handsets and accessories are being used in mines, on beaches and oceanfronts and in cities around the U.S. The company is also doing brisk business as a partner to U.S. wireless carriers. As of July, Siyata had new orders for its SD7 handsets and accessories valued at more than $4.5 million in aggregate from U.S. wireless carriers. With that kind of validation, things could be looking up for Siyata. “The U.S. wireless carrier channel is proving to be a powerful point of distribution,” said Seelenfreund. “Our SD7 handset is experiencing even wider adoption as a result of our relationships with the leading U.S. carriers and their distributors, and these orders demonstrate that." Featured photo by Ryan McGuire from Pixabay. Siyata Mobile Inc. is a B2B global vendor of next-generation Push-To-Talk over Cellular devices, cellular booster systems, and video monitoring solutions. Its portfolio of in-vehicle and rugged devices enables first responders and enterprise workers to instantly communicate, over a nationwide cellular network of choice, to increase situational awareness and save lives.Its portfolio of enterprise-grade and consumer cellular booster systems enables first responders and enterprise workers to amplify cellular signals in remote areas, inside structural buildings where signals are weak, and within vehicles for the maximum cellular signal strength possible.For its video monitoring system, Siyata integrates software that we license with off-the-shelf hardware providing our customers with an integrated advanced camera system for management and visual monitoring of their fleet vehicles. This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata's current expectations, they are subject to various risks and uncertainties, and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Siyata's filings with the Securities and Exchange Commission ("SEC") and in subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Brett Maas SYTA@haydenir.com
September 20, 2024 08:30 AM Eastern Daylight Time
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