MICT Inc (MICT)

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MICT Shares Double on First Significant Order for SmartCam
7:36 am ET August 18, 2020 (Dow Jones) Print
By Chris Wack

MICT Inc. shares doubled to $8 in premarket trading Tuesday after the company said its Micronet Ltd. subsidiary received its first major order for its new video telematics product, SmartCam.

The technology company said SmartCam, which received U.S. Federal Communications Commission authorization for 2.4GHZ, 5GHZ and LTE, subsequently entered a pilot trial with a global telematics provider, an ongoing customer of Micronet, leading to this first order in the North American market. The company didn't provide financial details of the order.

MICT said it expects to ship and book revenues for the order toward the end the year.

Micronet is piloting SmartCam with other customers as well, some of which were interrupted due to the Covid-19 pandemic but are now back on track.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

August 18, 2020 07:36 ET (11:36 GMT)

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