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MONTVALE, N.J., April 26, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT), (the "Company"), today announced that on April 23, 2021 its majority-owned Micronet subsidiary secured certification to operate its smart camera product on T-Mobile’s global mobile network.
The Company further announced that the T-Mobile certification gives Micronet the ability to advance its sales process with two significant potential customers to launch video telematics offerings. The Company expects this certification to further facilitate additional Micronet sales advancement with potential customers.
“The certification of Micronet’s mobile smart camera to operate on T-Mobile’s network, which is one of the largest in the US, is an important advancement for Micronet as it validates the technology with one of the world’s leading mobile networking providers,” said Darren Mercer, MICT’s Chief Executive Officer. “We continue to see incremental success resulting from our investment in Micronet and look forward to continued execution on that business.”
The Micronet SmartCam is unique and cutting-edge all-in-one video telematics device operated on the Android platform. The rugged and ready-to-go smart camera supports a complete set of telematics features designed for in-vehicle use. Coupled with a vehicle-connected interface, state of the art diagnostic abilities and two cameras, the Micronet SmartCam offers video, analytics and telematics services, addressing safety, vehicle health and tracking needs for operators of vehicle fleets.
About MICT, Inc.
MICT, Inc. (NasdaqCM: MICT) operates through its subsidiaries, GFH Intermediate Holdings Ltd ("GFHI") and its various fully owned subsidiaries or VIE structures. And Micronet. GFHI's versatile proprietary trading technology platform is designed to serve a large number of high growth sectors in the global fintech space. Primary areas of focus include online brokerage for equities trading and sales of insurance products in several high-growth foreign markets including Asia where GFH owns a substantial propriety database of users. Micronet operates in the growing telematics and commercial Mobile Resource Management (MRM) market, mainly in the United States and Europe. Micronet designs, develops, manufactures and sells mobile computing solutions that provide fleet operators and field workforces with computing solutions in challenging work environments.
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, our expectations about receiving orders for our products in the future, statements regarding our business and operations, statements regarding SmartCam, our expectations regarding the global logistics and transportation telematics industry growth, and the belief that a majority stake in Micronet will leverage our global platform to grow the telematics business. 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.