MONTVALE, N.J., Oct. 23, 2019 /PRNewswire/ -- MICT, Inc.
(NasdaqCM: MICT), (the "Company"), announced today that Micronet
Inc., a Mobile Resource Management ("MRM") company in which the
Company owns a minority interest, has received a purchase order for
the supply and delivery of its 4th generation TREQ-317 all-in-one
hardware platform ("TREQ-317 all-in-one") from an existing
customer, a leading U.S. telematics service provider focusing on
industrial solutions and components, in the total amount of
$1,200,000.
The TREQ-317 all-in-one is a rugged Android™ based fix-mount
on-board computer, installed in the driver's cabin. The TREQ-317
all-in-one offers advanced functionality enabling the customer,
inter alia, to perform monitoring and management of vehicle fleets,
including advanced Android™ based 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 service, all with the purpose of
improving customer efficiency and safety aspects of the customer's
operations.
Further, the TREQ-317 all-in-one enables real-time monitoring
capabilities of both vehicle and driver activity and is compliant
with the U.S. electronic logging device (ELD) regulations, which
mandate and regulate the operations of commercial truck drivers,
including, among others, the requirement to report hours of service
and other safety data in an electronic manner.
About MICT, Inc.
MICT, Inc. (NasdaqCM: 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.
For more information please visit: www.mict.com, the contents of
which are not incorporated by reference into this press
release.
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 functionality of TREQ-317 all-in-one and the ability
of TREQ-317 all-in-one to help customers comply with certain laws
and regulations. 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.