Micronet Receives $2.7 Million Purchase Order
for Mobile Rugged Tablets
Montvale, N.J., June 24 , 2014 /PRNewswire/ Micronet Enertec Technologies, Inc. (NASDAQ: MICT), announced today that its subsidiary Micronet Inc. received a $2.7 million purchase order for its fully portable TREQ-VMx rugged mobile computing device from a U.S. based MRM service provider.
The new MRM customer is a leading service provider specializing in vertical transit providing full MRM solutions in the transit space. Deliveries are expected through the end of 2014. The TREQ-VMx is a rugged portable tablet platform originally developed by the recently acquired MRM/FM (Fleet Management) business division of U.S. based Beijer Electronics Inc. – now integrated into Micronet Inc. and marketed along with Micronet’s portfolio of tablet-based MRM solutions.
David Lucatz, Chairman and CEO of Micronet Enertec Inc, stated: “We are excited to announce this significant order following our recent Beijer acquisition. The TREQ-VMx perfectly complements Micronet’s original product line, and it is opening up access to new applications and to new market segments. We are confident that we have a comprehensive product line to provide innovative solutions for almost any need of the huge and growing MRM/FM market.”
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (MICT), operates through two companies, Enertec Systems 2001 Ltd ("Enertec"), its wholly-owned subsidiary, and Micronet Ltd ( together with its wholly owned subsidiary, Micronet Inc., "Micronet") in which it has a 58.6% controlling interest. Micronet operates in the growing commercial Mobile Resource Management (MRM) market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems for missile defense systems, command and control and others. The Company's products, solutions and services are designed to perform in severe environments and battlefield conditions. For more information please visit: www.micronet-enertec.com, the content of which is not incorporated by reference into this press release.
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding the timing of delivery of the order discussed above, penetrating new markets, selling more applications and increasing our customer base. Such forward -looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the company's annual report on Form 10-K for the year ended December 31, 2013, and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Miri Segal Scharia
Managing Partner Global Accounts & IPOs
Hayden/ MS-IR LLC
Micronet Enertec Technologies, Inc.