On The Move Systems Corp (OTCMKTS:OMVS) is having a strong week and they are already up in morning trading as well. The price is holding gains from early July and could be testing new highs. OMVS is merging with an AI and robotic assistance company – RAD solutions. Updates show the merger will close in August and traders are reacting to a deal that could significantly boost revenues.
Here is a quote that is important from the merger news: “RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.“
On The Move Systems Corp (OTCMKTS:OMVS) is a trucking and transportation company, but this new deal is taking them in an interesting new direction. First, let’s look at OMVS on its own.
According to the company, “We reincorporated into Nevada on February 17, 2015. Our business focus is transportation services. We are currently exploring the on-demand logistics market by developing a network of logistics partnerships. Our year-end is February 28.”
The business focus is transportation-related technology services. The company notes that it is currently exploring the online, on-demand logistics market by developing a shared economy network of trucking partnerships.
OMVS is in the process of building a shared economy app designed to put independent drivers and brokers together for more efficient pricing and booking, optimized operations and quick delivery turnarounds. The company has signed a letter of intent with a Houston-area software design firm regarding development of such a platform. The Company believes that this app, when released, could revolutionize the trucking industry by connecting national and local carriers, enabling each to maximize revenues and reduce costs.
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The RAD acquisition is great because they have momentum of their own. The company has a proof of concept deal with a major utility company and 15 other potential customers who want to deploy their robots.
Here is another quote from the press last month:
“RAD will deploy a robot at the utility during the month of July. The POC is scheduled to last 20 days after which, if satisfied, the utility is expected to place orders with RAD for robots. We are currently working with several utilities that have demonstrated strong interest to undergo POCs, and we expect to enter into several other POC agreements with other utilities in the near future.”
On The Move Systems Corp (OTCMKTS:OMVS) has made the smartest deal of their life acquiring RAD. The deal when finalized will spin off some good growth in the short-term. The deal is being handled with care and both companies are going to benefit. OMVS has a 7.84M market cap and 43.79M shares outstanding, but expect that to be changing soon. For continuing coverage on shares of $OMVS stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $OMVS, either long or short, and we have not been compensated for this article