New orders of $1,000,000 Received by Micronet for its legacy TREQ VMX portable mobile data terminal
MONTVALE, N.J., June 3, 2019 /PRNewswire/ -- MICT, Inc. (Nasdaq: MICT) (the "Company"), announced that on June 2, 2019, Micronet Ltd. announced that on May 31, 2019 it received two purchase orders totaling $1,000,000 for the supply and delivery of its TREQ VMX platform. Micronet Ltd., an entity in which MICT has a voting stake of approximately 39.53%, received the purchase orders from a leading U.S. telematics service provider and a current Micronet customer.
The TREQ VMX platform is a rugged portable mobile date terminal, installed in the driver's cabin, which enables the monitoring and management of a vehicle fleet.
"This order, from one of our valued customers, joins previous orders received by Micronet as announced last week and in April 2019, which are valued at $2,600,000 in the aggregate. We are pleased with the positive momentum that Micronet is showing and look forward to the release of its next generation line of products later this year," stated MICT's CEO, David Lucatz.
About MICT, Inc.
MICT, Inc. (Nasdaq: MICT), via Micronet, operates in the growing commercial 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-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 positive momentum that Micronet is showing and the timing of the release of Micronet's next generation line of products. 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.
Released June 3, 2019