SARASOTA, Fla., May 24, 2017 /PRNewswire/ -- xG Technology, Inc.
("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider
of wireless video solutions to broadcast, law enforcement and
defense markets, and private mobile broadband networks for critical
communications, announced that its IMT and Vislink businesses have
received approximately $3 million in
new order and pre-order commitments directly resulting from their
appearance at the NAB 2017 Show. Subsequent to the show, which took
place April 22-27, upwards of 20% of
these commitments have been converted into firm orders.
The orders have included a wide array of IMT and Vislink video
equipment, including comprehensive HEVC (High Efficiency Video
Coding) and 4K UHD (Ultra High Definition) wireless camera systems,
fully-integrated satellite systems, as well as other transmit and
receive components. The purchases have originated from broadcast
and media organizations located in both the U.S. and
internationally. IMT and Vislink showcased the full range of their
Industry-Leading video capture, delivery and management solutions
at NAB 2017 and was also a featured presenter at conferences held
during the event.
George Schmitt, CEO and Chairman
of the Board of xG Technology, said, "The new business IMT and
Vislink have booked from NAB 2017 represents further endorsement of
their systems and confirms their appeal as a single source for
professional, end-to-end video solutions. This was the perfect
opportunity to show the broadcast and media industry that the
teaming up of IMT and Vislink would drive expanded product and
technology capabilities, and we took advantage of it in a robust
fashion. By all measures, from the order commitments placed, to
traffic to our booths, to the level of interest expressed by new
potential resellers and other partners, the show was a resounding
success."
John Payne IV, president of IMT
USA, said, "We are extremely
pleased with the results we have seen from IMT and Vislink's
participation at NAB 2017. Because it is the broadcast industry's
marquee event, it was essential that we make our presence felt
there in a formidable way, and our onsite team delivered. We will
be following up our NAB appearance with participation in other
tier-one venues that target the broadcast and media, sports and
entertainment, and law enforcement and defense sectors over the
coming months."
About xG Technology, Inc.
xG Technology's brands provide wireless video solutions to
broadcast, law enforcement and defense markets, and private mobile
broadband networks for use in challenging environments. xG's brand
portfolio includes Integrated Microwave Technologies (IMT),
Vislink, and xMax.
IMT has pioneered advanced digital microwave systems and is a
trusted supplier to broadcast, sports and entertainment, and MAG
(Military, Aerospace & Government) markets. Their products are
recognized for their high level of performance, reliability, build
quality, extended operating ranges and compact form factors. More
information about IMT can be found at www.imt-solutions.com.
Vislink specializes in the wireless capture, delivery and
management of secure, high-quality, live video, and serves
broadcast & media and public safety & surveillance markets.
More information about Vislink can be found at
http://www.vislink.com/.
xMax is a secure, rapid-deploy mobile broadband system that
delivers mission-assured wireless connectivity in demanding
operating environments. It was designed to serve as an
expeditionary and critical communications network for use in
unpredictable scenarios and during fluid situations, making it
ideal for disaster response, emergency communications, and defense
applications. More information about xMax can be found at
http://www.xgtechnology.com/system-overview/. In addition to the
above business lines, xG has a dedicated Federal Sector Group (xG
Federal) focused on providing next-generation spectrum sharing
solutions to national defense, scientific research and other
federal organizations. Additional information about xG Federal can
be found at http://www.xgtechnology.com/technology/xg-federal/.
Based in Sarasota, Florida, xG
Technology has over 100 patents and pending patent applications. xG
is a publicly traded company listed on the NASDAQ Capital Market
(symbol: XGTI) For more information, please visit
www.xgtechnology.com.
Cautionary Statement Regarding Forward Looking
Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to xG Technology, Inc., its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
FOR MORE INFORMATION
xG Technology:
Daniel
Carpini
941-953-9035
daniel.carpini@xgtechnology.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/xg-technologys-imt-and-vislink-businesses-announce-3-million-in-new-order-and-pre-order-commitments-received-from-the-nab-2017-show-300463101.html
SOURCE xG Technology, Inc.