Siyata Mobile Continues to Grow Hardware Sales together with Software Recurring Revenue for its PoC Portfolio
January 29, 2018 (Source) — Siyata Mobile Inc. (the “Company” or “Siyata”) (TSX-V:SIM) (OTCQX:SYATF) is pleased to announce that it has secured device and software sale contracts to multiple customers and industries including municipalities, trucking, security, bus, and taxi companies in the month of January.
The recurring revenue portion of these sales are expected to contribute CAD$300k in revenue to the company on an annual basis with additional similar opportunities in the pipeline for 2018.
Marc Seelenfreund, CEO of Siyata Mobile, commented, “Our goal entering 2018 was to create momentum to achieve both hardware and recurring revenue software sales. We are pleased to announce this strong start to 2018, and we expect this trend to continue throughout the year.”
Together with the company’s UCP100 and UCP200 Uniden 3G devices, the Uniden portfolio now bears an additional two 4G/LTE cellular devices. The UV350, the world’s first 4G/LTE all-in-one fleet communications device, and the CP250, a connected vehicle tablet/DVR 4G/LTE device built for lighter vehicles.
According to a recent report by Inkwood Research, the global public safety and security market is projected to grow to $537.2-billion by 2024 at a compound annual growth rate of 10.91 per cent between 2016 and 2024. The report notes: “Citizens and enterprises face continuous threats from cyber criminals, natural disasters, and terrorist attacks. This has increased the demand for public safety and security solutions across the world.”
Siyata Mobile Inc. is a leading global developer and provider of cellular communications systems for enterprise customers, specializing in connected vehicle products for professional fleets, marketed under the Uniden® Cellular brand. Since developing the world’s first 3G connected vehicle device, Siyata has been a pioneer in the industry, launching the world’s first 4G LTE all-in-one fleet communications device in 2017. Incorporating voice, push-to-talk over cellular, data, and fleet management solutions into a single device, the company aims to become the connected vehicle communications device of choice for commercial vehicles and fleets around the world.
Siyata also offers rugged phones for industrial users and signal boosters for homes, buildings, and fleets with poor cell coverage. Siyata’s customers include cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the U.S., Europe, Australia, and the Middle East.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
CEO and Chairman
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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