Algorhythm Holdings Inc. announced the completion of its $4.5 million sale of the Singing Machine karaoke business to Stingray Music USA, Inc. The transaction, which involves the sale of all assets related to the karaoke business, was settled through cash payment and the assumption of selected liabilities and trade payables by Stingray. This strategic move allows Algorhythm to focus on its high-growth AI freight platform, SemiCab. According to Gary Atkinson, CEO of Algorhythm, the sale represents a significant milestone, enabling the company to concentrate resources on expanding SemiCab, which has seen its annualized revenue run rate more than triple since January 2025. The transaction is expected to provide a seamless transition for Singing Machine's employees, customers, and partners, with the brand continuing to thrive under Stingray's leadership.
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