Micronet develops SmartHub – a black car box for monitoring vehicle, driver and location data as part of telematics services
Micronet, which develops, manufactures and markets computer systems and terminals for the management of vehicle fleets and field workers, reports on receiving a first order from a world-leading international truck manufacturer, for the company’s smart-parent (black box) and smart-tab (hard dedicated tablets) products. This order (at this stage in a limited quantity) is part of an agreement that is being signed for a period of 3 years for the purchase of the company’s flagship products with a European automotive giant. The international truck manufacturer has the option to extend the agreement on similar terms for a period of two additional years. According to Micronet, this framework agreement has significant potential for increasing the company’s revenues.
This agreement will be Micronet’s first strategic engagement with a major automotive OEM (automaker), which supports a new trend of automakers to provide telematics services themselves. The European company is one of the 3 largest truck manufacturers in Europe, with a significant market share in the field of heavy transport trucks in Europe (16 tons or more) and in total produced many tens of thousands of trucks in 2019.
The SmarTab (SmarTab8) is a dedicated device that includes full telematics capabilities, powerful processing capabilities, an open system and a tablet user interface in one device. The fact that it contains these capabilities in a single device constitutes a significant differentiation from the rest of the devices in this market, allowing easy and single installation of the device from a single provider without the need for multiple installations, support and integration efforts between different devices. The SmartHub is a black car box for monitoring vehicle, driver and location data as part of the telematics services. The smart-father device is one of the few black boxes that operates as an open system, which allows the addition of features, capabilities and services easily and quickly even when the device is already installed in the vehicle and is in the field. The new-generation smart-parent product is based on a common platform for the company’s smart camera product.
Eli Avivi, CEO of Micronet: “We are pleased to report a first order and a strategic agreement in the final stages that is of great significance to Micronet. We anticipate that sales will begin in the first quarter of 2021. The agreement is an important expression of confidence in the company’s flagship products on the part of a leading international truck manufacturer. We believe that there is a change in the approach of the major automakers who are interested in producing a longer revenue tail in front of their customers and that they intend to offer additional services for longer engagement periods. Such a change in attitude is an opportunity for Micronet Solutions, which is at a strategic juncture, as more manufacturers want to equip their vehicle fleets with advanced technological solutions. We believe that this agreement may lead to further similar agreements. “
Avivi added that As of March, Micronet has taken a series of streamlining measures in accordance with the need to deal with the company’s business results, which were affected by, among other things, the spread of the corona virus, which caused uncertainty and a freeze on the production capabilities of some of the company’s suppliers. Also, according to the company’s announcements, after receiving the approvals from the US Federal Communications Authority and the EU approval to market the Enhanced SmartCam camera product, Micronet has started operating in the target markets for marketing this innovative product, which will be piloted by a leading US telematics solutions provider. . ”
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