Broadband  |  2024-07-02

Siyata Mobile Announces Significant Strategic Investment in Canadian Towers & Fiber Optics with a Focus in Latin America

Curated by: Gert Jan Wolf - Editor-in Chief for The Critical Communications Review

Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW) (" Siyata " or the " Company "), a global developer and vendor of Push-to-Talk (PTT) over Cellular (PoC) handsets and accessories, today announces that it has committed to an investment in Canadian Towers & Fiber Optics Inc. ("CT&FO"), a Canadian based company that develops, constructs and owns telecommunications infrastructure in the flourishing telecommunication market in Mexico .

CT&FO is focused on tower development in the attractive telecommunication market of Mexico with plans to expand to otherLatin America countries through its extensive relationships in the region. Mexico is the second largest market in the $81 billionLatin American telecommunications industry. CT&FO owns and operates the largest dark fiber optic network in Central Mexico , with multinational telecommunications giant Telefonica as its anchor tenant under a 20-year leasing contract. The network serves the area where some of the strongest industrial and fastest growing state economies are located. As the preferred partner for providing coverage to the rural regions of Mexico , the company has 24 towers deployed and the opportunity to develop more than 1,000 additional towers in key markets over the next several years.

Siyata CEO, Marc Seelenfreund , commented,

"Our investment in CT&FO provides us with an entrée into Latin America through an established and fast-growing telecommunications partner. Through this partnership, we will have the opportunity to collaborate with a leading cell tower company to develop new business opportunities for our PTT handsets in Central Mexicoand across Latin America as CT&FO further expands its business. Latin America represents a massive market opportunity for PTT devices, and we are excited to leverage CT&FO's leading industry position to further advance our sales efforts."

Canadian Towers & Fiber Optics Inc., CEO Chris Cooper commented,

"We are excited to have Siyata join as an investor. We look forward to working with the Siyata team to grow our telecommunications infrastructure business and to introduce its innovative devices to wireless carriers in Latin America ."