SOURCE: Micronet Ltd.

Micronet Ltd.

May 14, 2014 08:00 ET

Micronet Acquires the U.S.-Based Mobile Resource Management (MRM)/Fleet Management (FM) Division of Beijer Electronics

Acquisition Further Positions Micronet as a Global Leader of Rugged Mobile Computing Technology

SALT LAKE CITY, UT--(Marketwired - May 14, 2014) - Micronet Ltd., the industry's leading supplier of rugged in-cab mobile data terminals, announced today that it signed a definitive agreement to acquire the mobile resource management/fleet management business division of Beijer Electronics Inc. The deal is expected to close by mid-June.

Micronet is purchasing all related intellectual property, product rights, customer base, sales and marketing network, and technical support, as well as production facilities. As part of the transaction, Beijer MRM/FM division employees will join Micronet to ensure successful business continuity and support of the company's growth.

With the businesses combined, Micronet will have a total installed base of 700,000 units. Micronet will have the most comprehensive product line in the industry, featuring state-of-the-art hardware and software technologies, including portable Android-based in-cab rugged tablets and cloud-based mobile device management software. The company will support an even wider variety of applications and vertical markets.

"Salt Lake City will operate as a Micronet base for sales, production and support organizations," stated Monte Dalton of Beijer Electronics. "Additional R&D, product development and support facilities will continue to be located in Israel."

"We are very excited to combine the wealth of knowledge and expertise of two of the leading MRM technology companies," said Rafi Katz of Micronet Ltd. "Micronet will now have full scale operations both in Israel and the U.S., enabling us to work closer to our growing, and increasingly global, MRM customers."

"This acquisition clearly reflects our strategy to become the leading provider of mobile computing technologies for a broad set of MRM solutions in multiple vertical markets globally," asserted David Lucatz, chairman of the board of directors of Micronet and CEO of parent company, Micronet Enertec Inc, a NASDAQ traded company (MICT).

About Micronet
Micronet Ltd. is the world's leading supplier of ruggedized mobile data terminals for fleet and mobile resource management applications. The company develops and manufactures automotive-grade mobile computers and tablets. An industry innovator, Micronet offers a seamlessly integrated intelligent software platform that enables remote device diagnostics, mobile device management and over-the-air software updates, facilitating cost savings and operational benefits. The company's array of offerings includes fixed-mount and portable devices running open standard Android and Windows Embedded operating systems. More than 450,000 Micronet devices have been sold. Micronet Ltd., an Israeli corporation listed on TASE, maintains full in-house software and hardware R&D capabilities, and operates a modern manufacturing facility, ISO 9001-2008 certified. Micronet Ltd. is part of NASDAQ-listed Micronet-Enertec Technologies Inc. (MICT). For more information, visit www.micronet.co.il or contact us at info@micronet.co.il.

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