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.
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.
SOURCE MICT, Inc.