The share price of Israeli smart camera developer Micronet Ltd. (TASE:MCRNT) was up 37% in afternoon trading on the Tel Aviv Stock Exchange (TASE) after the company reported it was in talks with a leading US telematics supplier and has received a pilot order for its SmartCam device.
Micronet has developed mobile computing platforms for fleet management and mobile workforce management solutions. Among other things the company develops, manufactures and markets an open Android, ruggedized, integrated and ready-to-go smart camera, which supports complete telematics features and is designed for in-vehicle use.
Micronet says that the Us customer has hundreds of thousands of subscribers for its telematics services and is looking to expand its existing services by providing video telematics to end customers based on Micronet's smart cameras.
For the latest stage in the pilot project, the US customer has ordered 100 cameras following the completion of a previous pilot project in September.
Micronet CEO Eli Avivi said, "We estimate that the pilot will be completed by the end of the year. This important agreement comes a short while after the company announced the signing of an agreement with leading international truck manufacturers for two of the company's other products, which will help the company create important revenue sources towards 2021."
Published by Globes, Israel business news - en.globes.co.il - on October 6, 2020
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