SARASOTA, Fla., July 19, 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 today that its Vislink business
has received an order valued at approximately $1.5 million for microwave communications
equipment from a leading medical device manufacturer. The Vislink
communications equipment included in the order will form an
integral part of an advanced medical device application.
Radio frequency (RF) and microwave technologies are seeing
increasing use in healthcare and biosensing applications, and
medical devices based on these technologies are playing a growing
role in the prevention, diagnosis and treatment of diseases. Among
the medical applications enabled and supported by RF and microwave
technologies are imaging, testing, scanning and rehabilitation.
"This order demonstrates the appeal of IMT and Vislink's
communications solutions in sectors that go beyond the traditional
core verticals in which they have been a market leader, namely,
broadcast & media and law enforcement, public safety and
defense," said George Schmitt,
Executive Chairman and CEO of xG Technology. "As evidenced by this
order, there are substantial opportunities available in scientific,
medical, research and other industrial applications where the
performance and reliability of IMT and Vislink equipment can
deliver impressive benefits."
Mr. Schmitt continued, "There are also opportunities in these
markets that could benefit from the inclusion of xG's xMax
broadband network solution, which is a natural complement to
telemedicine and other health initiatives, particularly in remote
areas."
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
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SOURCE xG Technology, Inc.