Algorhythm announces acquisition of SMCB Solutions Private

Algorhythm (RIME) announced the acquisition of SMCB Solutions Private, SemiCab India, an India private limited company. This marks Algorhythm’s second transaction with SemiCab, Inc. following the acquisition of its U.S. business in July 2024. Under the terms of the deal, Algorhythm’s subsidiary, SemiCab Holdings acquired 9,999 of the 10,000 issued and outstanding equity shares of SemiCab India. In exchange, Algorhythm issued a $1.75 million promissory note and 119,742 shares of its common stock to SemiCab, Inc. “We’re thrilled to complete the acquisition of SemiCab’s Indian operations,” said Gary Atkinson, CEO of Algorhythm Holdings. “India represents one of the world’s most compelling logistics opportunities due to its geographic density, strong institutional partnerships, and accelerating infrastructure investment. With this transaction, we gain direct access to top-tier multinational customers and a rapidly scaling AI platform positioned to disrupt the global freight market.”