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Concord, Ontario, Canada -- February 11, 2021 -- InvestorsHub NewsWire -- Ultrack Systems Inc. (OTC PINK: MJLB), a total fleet-management GPS tracking and monitoring solution provider, is pleased to announce that the Company has secured two new contracts for Ultrack's products and services to be used in two fleets of high-end car rental companies. Additionally, the Company is now in the final phase before the official launch of Ultrack's new ELD product and substantial hurdles have been cleared successfully.

In early February, the Company inked two new deals for Ultrack's products and services to be used by two high-end car rental companies. These car rental companies represent brand new clients for Ultrack and immediately helps the Company to achieve deeper penetration into the car rental/leasing niche, which happens to be vast. The global car rental market size was valued at $92.92 billion in 2019 and is projected to reach $214.04 billion by 2027, registering a CAGR of 10.7% from 2020 to 2027. North America accounted for the highest share in the global car rental market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the forecast period. (from https://www.alliedmarketresearch.com/car-rental-market)