SemiCab, Singing Machine’s Subsidiary, Expected to Add Over $9 M in 2024 Revenue
DENVER, Colo., Jul 16, 2024 (247marketnews.com)- The Singing Machine Company, Inc. (NASDAQ:MICS) provided an update on the integration process for the newly created operations under SemiCab Holdings, as the Singing Machine completes the final prerequisites for the acquisition of SMCB Solutions Private Limited, ncludng the subsidiary’s current $9 million in contracted services pipeline from existing clients.
Gary Atkinson, CEO of The Singing Machine, commented, “The acquisition of SemiCab’s Indian operates will be the final step in our integration of their AI logistics business into our new holding company structure.
“For our team, this has always been the primary rationale for the SemiCab acquisition from the onset. The immediate impact over the next 12 months from our Indian operations is expected to be our largest source of overall revenue growth.
“SemiCab has benefitted from some world-class early adopters of our leading AI solutions for global logistics. We are aggressively pursuing growth in that geography through both the expansion of our existing customer relationships, as well as adding new clients through the National Digital Freight Exchange. This is our single most important growth opportunity for the foreseeable future.”
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