MICT Inc. announced Monday that Montvale-based Micronet Ltd. received two purchase orders totaling $1 million to supply and deliver its TREQ VMX platform.
Micronet Ltd., an entity in which MICT has a voting stake of 39.53%, received the orders from a U.S.-based telematics service provider.
Micronet’s platform, it said, is a portable mobile data terminal to monitor and manage 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 $2.6 million 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,” MICT CEO David Lucatz said.