MONTVALE, N.J., Jan. 17, 2020 /PRNewswire/ -- MICT, Inc.
(Nasdaq: MICT) (the "Company"), announced today that Micronet Ltd,
an entity in which MICT owns 30%, has received U.S. Federal
Communications Commission (FCC) authorization for its new advanced
video telematics camera, The Smart Camera ("SmartCam") for 2.4GHZ
and 5GHZ.
With the launch of SmartCam, Micronet is penetrating the
video telematics market, one of the fastest growing segments in the
broader telematics market.
The first model in Micronet's new, highly advanced video
telematics camera product line, SmartCam offers using among
other 3rd parties technologies, sophisticated video
analytics for fleet managers. SmartCam integrates driver
facing cameras, road facing cameras, vehicle mechanical and
operating data, vehicle location, and a powerful telematics
on-board computer, enabling local processing of artificial
intelligence (AI) and image processing algorithms.
The SmartCam is joining the family of the new advanced
Micronet's products, SmarTab and SmartHub which are
all based on an open software platform and Android operating
system, enabling third party applications and easing development
efforts for customers, while generating recurring
software-as-a-service (SaaS) income for Micronet.
MICT's CEO, Mr. David Lucatz
stated, "SmartCam is a highly innovative product, integrating AI
and video technologies to bring a new value proposition to
telematics customers by further improving driver safety and
increasing fleet manager insight. By launching SmartCam, Micronet
expands its reach into the fastest growing segment of the
multi-billion-dollar telematics market, while also increasing our
Software-As-A-Service (SAAS) revenues through software and
AI services."
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 the launching of SmartCam and how it expands Micronet's
reach into the telematics market, while also increasing its
Software-As-A-Service (SAAS) revenues. 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. 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.