MONTVALE, N.J., May 23, 2019 /PRNewswire/ -- MICT, Inc.
(Nasdaq: MICT), (the "Company"), announced today that Micronet Ltd.
has announced it received two purchase orders totaling $1,300,000 for the supply and delivery of its 4th
generation SmartHub hardware platform. Micronet Ltd., an entity in
which MICT has an ownership stake of approximately 39.53%, received
the purchase orders from a leading U.S. telematics service
provider, and a current Micronet customer.
The 4th generation SmartHub hardware platform is a rugged
Android™-based fix-mount on board computer, offering advanced
functionality at a competitive price. Installed in the driver's
cabin, the SmartHub hardware platform enables monitoring and
management of vehicle fleets including Android™-based advanced
computing assignments such as follow-up of tasks, two-way
communication with the fleet manager, remote vehicle and
engineering equipment diagnostics, monitoring behavior, and
drivers' hours of services.
"New orders from current customers are the best testament of
Micronet's valuable solutions in the Mobile Resource Management
(MRM) market. Micronet's latest technologies, including its
next-generation SmartHub, are finding traction with customers that
are leaders in the industry. We are also pleased to see Micronet's
customers signing on for its annual SaaS based services, which
generate annual recurring revenue for Micronet," stated MICT's CEO
David Lucatz.
About MICT, Inc.
MICT, Inc. (Nasdaq: MICT), via Micronet, operates in the growing
commercial 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.
For more information please visit: www.mict-inc.com.
Forward-looking Statements
This press release contains express or implied forward-looking
statements within the Private Securities Litigation Reform Act of
1995 and other U.S. Federal securities laws. These forward looking
statements include, but are not limited to, those statements
regarding its belief that new orders from current customers are the
best testament to Micronet's valuable solutions in the MRM market,
that Micronet's latest technologies are finding traction with its
customers and that Micronet's SaaS based services generate annual
recurring revenue. Such forward-looking statements and their
implications involve known and unknown risks, uncertainties and
other factors that may cause actual results or performance to
differ materially from those projected. {N0552057; 3}
The forward-looking statements contained in this press release
are subject to other risks and uncertainties, including those
discussed in the "Risk Factors" section and elsewhere in the
Company's annual report on Form 10-K for the year ended
December 31, 2018 and in subsequent
filings with the Securities and Exchange Commission. Except as
otherwise required by law, the Company is under no obligation to
(and expressly disclaims any such obligation to) update or alter
its forward-looking statements whether as a result of new
information, future events or otherwise.
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SOURCE MICT, Inc.