MICT to merge with TINGO.

MICT, a financial technology business, agreed to merge with TINGO, an agri-fintech company. Financial terms were not disclosed. “This transaction is transformative for MICT, and represents a significant building block in delivering on MICT’s core promise of offering innovative financial technology platforms to global fast-growing markets including Asian, and now Pan-African markets. We are excited to deliver the Agri-Fintech competencies of Tingo to the hundreds of millions of agricultural communities across China and to further its mission of achieving food security, to China and other geographical markets. The merger with Tingo adds a cutting-edge, strategic technology and business for MICT in pursuing its ambition to provide best-of-breed products as a one-stop-shop financial technology platform in fast growing overseas markets including China, Asia, and the African Continent," Darren Mercer, MICT CEO.