Micronet Receives $1,200,000 Order for its TREQ-317 all-in-one On-Board Computer

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.

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