MONTVALE, N.J., April 20, 2020 /PRNewswire/ -- MICT, Inc.
(Nasdaq: MICT) (the "Company"), announced today that Micronet Ltd,
an entity in which MICT holds a voting interest of 37.48%, has
received U.S. Federal Communications Commission (FCC) authorization
for its new, advanced rugged tablet(the "SmarTab8"), for 2.4GHZ,
5GHZ and LTE bands.
With the launch of SmarTab8, Micronet believes that it
has significantly improved its offering to the fast-growing broader
telematics market.
The SmarTab8 is the most advanced solution in Micronet's
offering, joining the family of the SmarTab5,
SmartHub and SmartCam, which are all based on an open
software platform and Android operating system, enabling running
third party applications and easing development efforts for
customers, while generating recurring software-as-a-service
("SaaS") revenue for Micronet.
MICT's Interim CEO, Mr. Darren
Mercer stated, "SmarTab8 is a highly innovative product,
integrating powerful computing power, enhanced user interface and
complete telematics features set to bring what we believe is a new
value proposition to telematics customers through its All-In-One
approach. This approach combines the telematics control unit, open
computing system, and a tablet in a single device. By launching
SmarTab8, we believe that Micronet will expand its reach into the
fastest growing segment of the multi-billion-dollar telematics
market, while also increasing its SaaS revenues through software
services."
About MICT, Inc.
MICT, Inc. (Nasdaq: MICT) operates through Micronet Ltd.
("Micronet"), a former subsidiary, in which the Company 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.
Through its contemplated acquisition of GFH, the Company is
pursuing a strategy to provide a fintech trading platform that
represents a 'one-stop-shop' full-service solution to B2C and B2B
customers in China and several other key markets in the
world. The core platform utilizes proprietary technology to deliver
an intuitive and innovative user-experience, which can be
white-labeled by strategic partners and also interface with other
platforms already used by those businesses.
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 SmarTab8, the belief that it has
improved Micronet's offering to the fastest growing segment of the
telematics market and that the SmarTab8 will enable the
implementation of third party applications as well as ease
development efforts for customers while generating recurring SaaS
revenue for Micronet. 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,
2019 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.