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MICT Subsidiary Micronet Sells Pilot Order and Enters Negotiations for Substantial Commercial Contract with One of the World’s Largest Telematics Service Providers

10/06/2020

Pilot order for SmartCam, a highly innovative video telematics product which integrates advanced software and AI functionality to serve the fastest growing segment of the global telematics market 

MONTVALE, N.J., October 6, 2020 /PRNewswire/ -- MICT, Inc. (Nasdaq: MICT), (the "Company"), announced today that its majority-owned subsidiary Micronet Ltd. (“Micronet’) received an initial order for 100 units of its pioneering, all-in-one video telematics device SmartCam for a pilot test to be conducted by one of the largest telematics service providers in the world. The customer is based in North America and is estimated to have hundreds of thousands of trucks in its network. Micronet is negotiating a large-scale commercial supply contract with the customer which is interested in expanding its range of offerings to provide video telematics services using the SmartCam. “This contract is a huge potential win for Micronet, which overcame numerous competitors to be awarded the initial pilot order from one of the world’s largest telematics service providers.

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About MICT, Inc. MICT, Inc. (NasdaqCM: MICT) operates through Micronet Ltd. (“Micronet”), a former subsidiary, in which MICT previously held a majority ownership interest that has since been diluted to a minority ownership interest. Micronet operates in the growing commercial Mobile Resource Management (MRM) market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments.

 

Contact Information

 

Tel: (201) 225-0190

info@mict-inc.com


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