Singing Machine to Acquire SemiCab, a Leading AI Logistics Technology Company
The Singing Machine Company, Inc. (MICS)
Company Research
Source: GlobeNewswire
SemiCab Generated $6 Million Revenue in 2023 Fort Lauderdale, FL, June 12, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced it has executed a definitive agreement to acquire SemiCab, Inc. (“SemiCab”), a leading artificial intelligence technology company that optimizes freight for Fortune 1000 clients in the US and Indian markets. SemiCab’s AI technology was developed specifically to build a hyper-efficient trucking network that operates at a 90%+ utilization level, well above the industry standard of 65%. This technology connects thousands of parties on a single network, building fully optimized transit routes that drive costs efficiencies for both the customer and the shipper. SemiCab’s founder and software development team has more than 30 years of experience developing increasingly complex software solutions for the global freight and logistics market.
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MICS
News
- Singing Machine to Acquire SemiCab, a Leading AI Logistics Technology Company [Yahoo! Finance]Yahoo! Finance
- Company Announces Strategic Alternatives [Yahoo! Finance]Yahoo! Finance
- Company Announces Strategic AlternativesGlobeNewswire
- Company Provides First Quarter 2024 Results of Operations [Yahoo! Finance]Yahoo! Finance
- Company Provides First Quarter 2024 Results of OperationsGlobeNewswire
MICS
Sec Filings
- 6/27/24 - Form 8-K
- 6/27/24 - Form 424B5
- 6/12/24 - Form 8-K
- MICS's page on the SEC website