The deal involves the acquisition of The Singing Machine's global home karaoke business, including all associated intellectual property, customer, supplier contracts and inventory. A key focus will be the growth of innovative microphone solutions for the in-car entertainment market. For over four decades, The Singing Machine has been the premier provider of home karaoke systems, selling over tens of millions of karaoke machines and over 50 million microphones to date. The integration of its hardware with St ...

Core Insights - Algorhythm Holdings, Inc. announced that its subsidiary, SemiCab India, has signed four new pilot agreements and four contract expansions with eight enterprise-scale customers in India, enhancing its market position [1][2][3] Group 1: Company Developments - SemiCab India will provide enterprise-level shipping services through its AI-powered, cloud-based Collaborative Transportation Platform, reinforcing its role as a preferred partner for high-volume shippers in India [2][4] - The expanded contracts involve major multinational FMCG, industrial, and automotive companies, with services expected to commence in June 2025 [3][6] - SemiCab India currently operates a fleet of over 140 trucks and plans to expand to more than 1,000 vehicles by the end of 2025 to meet increasing demand [3][6] Group 2: Market Potential - The Indian freight transportation market, valued at $140 billion, is projected to grow to $240 billion by 2029, indicating significant growth opportunities for logistics companies [3][6] - Demand for long-haul truckload transportation in India is increasing, presenting opportunities for technology-led efficiency gains [4][6] - The new contracts are expected to increase SemiCab India's annualized revenue run rate by over 400% compared to Q1 2025 levels, highlighting the financial impact of these agreements [6]

Core Insights - Algorhythm Holdings, Inc. has appointed Ajesh Kapoor to its board of directors, effective May 19, 2025, bringing over 30 years of experience in supply chain and logistics technology [2][3][6] Company Overview - Algorhythm Holdings is an AI technology and consumer electronics holding company with two main business units: SemiCab and Singing Machine [7] - SemiCab is recognized as an emerging leader in the global logistics and distribution industry, utilizing AI-enabled, cloud-based solutions to optimize supply chain operations [8] Ajesh Kapoor's Background - Ajesh Kapoor is the Founder and CEO of SemiCab, which has been acknowledged as a Gartner Cool Vendor in Supply Chain [4] - He previously held the position of Vice President of Product Management at GT Nexus, where he transformed the TMS product line into a cloud-based platform, leading to its acquisition by Infor for $675 million in 2015 [4][5] - Kapoor also served as Global Head of Supply Chain Advisory Services at Wipro Technologies and was the Founder and CTO at GEOCOMtms, which became an industry leader in fleet management solutions before its acquisition [5] Strategic Importance - Kapoor's appointment is expected to leverage his extensive expertise to accelerate Algorhythm's business transformation, particularly following the acquisition of SemiCab's US component in July 2024 [6]

Fort Lauderdale, FL, May 14, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm Holdings" or the "Company") (NASDAQ: RIME) -- AI technology and consumer electronics holding company -- today announced that its earnings for its first quarter 2025 will be released on Thursday, May 15, 2025. Management will host a conference call on Friday, May 16, 2025, at 10:00 a.m. Eastern Time to discuss the financial results and provide a business update. Conference Call Details: Date: Friday, May 16, 2025 Tim ...

Core Insights - Algorhythm Holdings, Inc. has acquired SemiCab Solutions Private Ltd., enhancing its presence in the rapidly growing Indian logistics market [1][2] - The acquisition provides access to a significant multinational customer base and scalable growth opportunities through SemiCab's AI platform [4][6] Company Overview - Algorhythm Holdings is a diversified technology-driven holding company with a focus on AI technology and consumer electronics [9] - SemiCab is recognized as an emerging leader in the global logistics and distribution industry, utilizing AI to optimize supply chain operations [10] Acquisition Details - Algorhythm's subsidiary, SemiCab Holdings, LLC, acquired 9,999 of the 10,000 equity shares of SemiCab India for a $1.75 million promissory note and 119,742 shares of common stock [2] - This acquisition marks Algorhythm's second transaction with SemiCab, Inc., following the acquisition of its U.S. business in July 2024 [1] Market Context - India's logistics sector, valued at $1.3 trillion, is undergoing modernization, supported by government initiatives like the Gati Shakti National Master Plan [5] - The National Digital Freight Exchange (NDFE) has selected SemiCab as its AI logistics partner, indicating strong institutional support for the company's technology [5] Performance Metrics - SemiCab India has more than doubled its annualized revenue run rate from approximately $1.8 million to approximately $4.5 million since January 2025, with expectations to double again by year-end [6] - The platform improves freight utilization rates from approximately 65% to up to 90% and reduces total shipping costs by up to 10% [7] Strategic Advantages - The acquisition allows Algorhythm to tap into existing contracts with leading FMCG companies in India, providing a pathway to scale operations significantly [6] - SemiCab's AI platform enhances visibility in the transportation network, enabling real-time collaboration between shippers and transporters [8]