MONTVALE, N.J., July 1, 2015 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), (the "Company"), announced today that its Mobile Resource Management (MRM) subsidiary, Micronet Ltd, has received via its wholly-owned subsidiary, Micronet Inc. a purchase order in the amount of approximately $1.4 million from a U.S. based Corporation (the Corporation) – a leading provider of solutions for the Public Transportation market. The purchase order is for Micronet's All-In-One rugged tablet.
The Corporation is a leading integrator of payment and information solutions for intelligent travel applications, enabling transportation authorities and agencies to manage demand across the entire transportation network in real-time. Utilizing Micronet's All-In-One rugged tablets, the Corporation will begin upgrading installations in various metropolitan areas.
"We are very pleased with our continued momentum in the Local Fleet MRM market. The public transportation segment is a big opportunity for us and this order demonstrates our proven market recognition. This award is another milestone in fulfilling our strategy to establish Micronet as a major supplier of rugged tablets to the multibillion dollar MRM market," said Shai Lustgarten, President and CEO of Micronet.
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (MICT) operates through two primary companies, Enertec Systems 2001 Ltd its wholly-owned subsidiary, and Micronet Ltd , in which it has a controlling interest. Micronet operates in the growing commercial 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 Corporation upgrading installations in various metropolitan areas using out tablets, the potential for us of the public transportation segment, or regarding our strategy to establish Micronet as a major supplier of rugged tablets to the multibillion dollar MRM market. 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, 2014 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.
SOURCE Micronet Enertec Technologies, Inc.