Micronet Enertec Technologies, Inc., formerly formerly Lapis Technologies, Inc., operate through two Israel-based companies, Enertec Systems 2001 Ltd (Enertec), its wholly owned subsidiary, and Micronet Ltd (Micronet), in which it has a controlling interest. It develops, manufactures, integrates and globally market rugged computers, tablets and computer-based systems and instruments for the commercial, defense and aerospace markets. In September 2012, the Company acquired control of Micronet. Effective August 18, 2013, Micronet Enertec Technologies Inc acquired a minority interest in Micronet Ltd, a manufacturer of custom and off-the-shelf terminals. In June 2014, the Company's subsidiary, Micronet Ltd acquired MRM/FM business division of United States-based Beijer Electronics Inc (Seller), a fully owned subsidiary of Beijer Electronics.