With Vislink Completely Integrated into its Existing Businesses, xG is Now Fully Transitioned into
a Provider of Video, Broadband and Satellite Solutions

SARASOTA, FL—May 15, 2017 —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 its results for the first quarter ended March 31, 2017. Management will hold a conference call to discuss these results on Wednesday, May 17, 2017 at 5:00 p.m. Eastern Time (details below).

Key Recent Accomplishments

• Completed the acquisition of the assets of Vislink, thereby assuming full legal ownership of the business. With the Vislink acquisition complete, xG has now fully transitioned its focus to providing comprehensive video, broadband and satellite solutions for broadcast, sports and entertainment, and defense markets.
• Announced an agreement with the seller in the Vislink transaction for extinguishing all remaining deferred debt incurred in the acquisition. All payments due from xG against the original promissory notes covering the acquisition of Vislink have been settled in full, and all liens have been released.
• Received a number of six-figure orders from US and internationally-based customers in the broadcasting, sports/entertainment and law enforcement sectors for wireless camera systems, aerial downlink components, satellite systems and other microwave transmission equipment.
• Reduced costs by eliminating 46 redundant positions, an annual cost savings of $3.8 million. Salaries, taxes and benefits for these positions of $390,000 and one time severance related charges of $330,000 are included in G&A for the quarter. In addition, facility costs have been reduced by $600,000, of which $103,000 has been recorded in the quarter and will not continue.
• Recorded one-time acquisition related fees of $1.8 million included in G&A. EBITDA, excluding the cost saving measures and one-time acquisition related charges, was $12.4 million for the quarter.
• Announced new management appointments in support of the realigned IMT and Vislink businesses to drive worldwide growth opportunities in key vertical markets.
• xG’s IMT business launched The IMTDragonfly, an ultra-miniature wireless video system designed for drone/UAV, bodycam, sports broadcast and reality-based production applications.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “In the first quarter, not only did we successfully conclude the acquisition of the assets of Vislink, but we have already completed the vast majority of the operational tasks identified as essential to the smooth integration of our businesses. With the Vislink acquisition now complete, we have effectively repositioned our business to focus on offering end-to-end, reliable, high-data rate, long-range video transmission solutions to the broadcast, sports and entertainment and defense markets. We are already seeing the promised synergies between xG, Vislink and IMT start to bear fruit in areas such as sales, joint technology and product development and manufacturing, and we are now leveraging the strength of our expanded solutions in the marketplace. As a result, we are well-positioned to expand our customer base, gain additional market share in key sectors, and deliver strong overall financial performance through the remainder of 2017.”

Roger Branton, CFO and co-founder of xG Technology, said, “We are pleased to report that we began the year 2017 with record quarterly revenue in Q1. We recorded a revenue run rate of approximately $1 million per week, once revenues from Vislink commenced in the second month of the quarter, and we expect this revenue run rate to continue into Q2. An adverse movement in the British Pound to US Dollar exchange rate reduced revenues by $350,000 compared to our forecasts for the quarter. We ended the quarter with positive cash flow and our working capital ratios improved substantially.”

Mr. Branton continued, “Our results include a preliminary bargain purchase gain from the Vislink acquisition which, while a one-time event, also means that no goodwill has been added to the balance sheet. The Vislink acquisition was concluded without incurring any debt, and the total amount of cash actually paid was substantially less than the purchase price. The IMT acquisition completed in 2016 also produced a bargain purchase gain, proving that we are acquiring these companies at favorable prices. This has helped place us on a strong financial footing to allow our companies to further capture business in their target markets. Therefore, we are considering establishing credit lines, both debt and equity, to access capital, specifically for acquisitions and to take advantage of opportunities that are time sensitive.”

Review of Results

Total first quarter 2017 revenues were $9.3 million compared to $929,000 in the first quarter of 2016. First quarter operating loss was $5.7 million compared to operating loss of $4.6 million in the first quarter of 2016.

Net income attributable to common shareholders was $8.3 million, or $0.87 per share compared to a net loss of $4.4 million, or $(21.42) per share in the first quarter of 2016.

xG ended first quarter 2017 with $4.7 million in cash compared to $9.1 million at December 31, 2016.

Financial Results Conference Call Details

xG management will hold a conference call to discuss xG’s Q1 2017 results on Wednesday, May 17, 2017 at 5:00 p.m. Eastern Time. To participate in the conference call, please call 844-825-9789 (toll free) or 1-412-317-5169 (international call-in) and ask to join the xG Technology call. For those who cannot participate in the call, an audio replay will be available on xG’s website at http://www.xgtechnology.com/about-xg-technology/investor-information/.

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

xG TECHNOLOGY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS EXCEPT PER SHARE DATA)

The accompanying notes are an integral part of these condensed consolidated financial statements.

xG TECHNOLOGY, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(IN THOUSANDS EXCEPT NET LOSS PER SHARE DATA)

The post xG Technology Reports First Quarter 2017 Results and Conference Call appeared first on xG Technology.

SARASOTA, FL—May 24, 2017 —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

The post xG Technology’s IMT and Vislink Businesses Announce $3 Million in New Order and Pre-Order Commitments Received from the NAB 2017 Show appeared first on xG Technology.

Latest Innovation Adds to xG’s Unique and Full Suite of Interference-Fighting Techniques

SARASOTA, FL—June 15, 2017 —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 it has been awarded a new patent covering an innovative method for enhancing the resilience of communications systems in the face of harmful interference. The patent “Interference-Tolerant Multi-Band Synchronizer” describes an approach that enables a wireless network to maintain robust performance despite adverse operating conditions.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “With this latest innovation, xG has now patented a full suite of interference mitigation techniques that make the xMax system unique in maintaining network performance in unfavorable communication environments. Interference mitigation is a key technological focus area for xG’s participation in funded R&D initiatives, and is a key driver in our engagements with national defense, scientific research, and other federal organizations.”

xG’s Federal Sector Group (“xG Federal”) focuses on delivering next-generation spectrum sharing solutions by leveraging xG’s extensive portfolio of patented RF communications technologies.

xMax provides reliable and resilient mission-assured C2 (command and control) while operating in uncoordinated, congested, and contested RF environments, particularly when subjected to direct, intense, and varied forms of electronic attack. The field-proven technology can identify unused spectrum and quickly tune to those frequencies. It instantly finds other spectrum if interference is detected, while maintaining uninterrupted connectivity for network users.

xMax has the flexibility to serve as either a fixed, mobile, portable, or aerial wireless infrastructure, making it ideal for a wide range of deployment scenarios. These include disaster response, public safety, and defense applications, where communications must often be established quickly, in fluid scenarios, and other challenging conditions.

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

The post xG Technology Awarded New Interference Mitigation Patent for Enhancing Wireless Communications appeared first on xG Technology.

SARASOTA, Florida, June 20, 2017 – xG® Technology, Inc. (“xG”) (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 Vislink business has received orders valued at approximately $250,000 from prominent local television stations for high-performance digital microwave systems.

The equipment covered by the orders includes digital microwave transmitter and receiver components and other related hardware, implemented in a comprehensive solution that supports both on-scene and in-studio applications. A key attribute of the Vislink systems is a purpose-built approach designed to meet broadcasters’ present requirements as well as their future growth plans.

“Our IMT and Vislink brands continue to excel in designing and delivering systems that meet and exceed market requirements in wireless broadcast technologies,” said George Schmitt, Executive Chairman and CEO of xG Technology. “Through their expanding product ranges and commitment to innovations such as 4K ultra high-definition TV, High-Efficiency Video Coding (HEVC) and IP-based newsgathering platforms, they remain leaders in enabling broadcasters to improve efficiencies and build audience engagement.”

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

The post xG Technology’s Vislink Business Receives Orders Valued At $250,000 From Local Television Stations for High-Performance Digital Microwave Systems appeared first on xG Technology.

Vislink System Provides Ship-to-Shore Video Connectivity for Live Stream Broadcast from Kiel Week

SARASOTA, Florida, June 21, 2017 – xG® Technology, Inc. (“xG”) (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 Vislink business is providing wireless camera transmission capabilities to support the live stream broadcast of the largest sailing event in the world.

Vislink equipment has been deployed by Sales Cube GmbH (“Sales Cube”), Vislink’s official reseller in Germany, at the Kiel Week Regatta (also known as Kieler Woche), which runs from June 17^th to June 25^th, 2017. In addition to being the largest sailing event in the world, Kiel Week is the largest summer festival in northern Europe. Held in Kiel, Germany, it brings together close to 5,000 sailors, 2,000 ships, and approximately three million visitors from around the world each year.

“IMT and Vislink solutions remain the trusted choice of broadcast professionals for capturing unique views and transmitting action from iconic events and locations,” said George Schmitt, Executive Chairman and CEO of xG Technology. “High-profile events like the renowned Kiel Week demand the performance, range, reliability and flexibility that our systems provide.”

The project called for the deployment of a new watercraft-based wireless transmission system to feed into the live stream broadcast from the event. Sales Cube worked with Vislink to specify an equipment list that would enable reliable ship-to-shore live transmission of footage while minimizing power consumption and payload.

Among the Vislink equipment being used is a next-generation, highly customizable wireless camera transmission system capable of supporting the dynamic action of live sporting events, as well a suite of diversity receivers and decoders targeted at compact wireless camera & microwave link use. Additional Vislink components were incorporated to optimize the video transmission and maintain image quality.

Martin Geritz, Head of Sales for Sales Cube, said, “Sales Cube is a proud partner and reseller of Vislink solutions and furthermore helps all customers with special developments and integration, as well as onsite support if required.” Sales Cube specializes in the integration of professional and innovative video transmission systems for media and broadcast productions around the world. More information on Sales Cube can be found at www.salescube.tv.

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

The post xG Technology’s Vislink Business Provides Wireless Camera Transmission Support for World’s Largest Sailing Event appeared first on xG Technology.

System Provides Secure, Interoperable Solution for Transmitting High-Quality Video from Aircraft
to Ground-Based Law Enforcement Operations

SARASOTA, Florida, June 22, 2017 – xG® Technology, Inc. (“xG”) (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 Vislink business has received an order with an approximate value of $100,000 order from a prominent state police organization located in the Mid-Atlantic region (“the Agency”) for an Airborne Video Downlink System (“AVDS”). The order, received from a new customer, is the most recent in a number of opportunities closed by IMT Vislink around the country for such systems.

The IMT Vislink AVDS will provide aerial support for police ground units on matters relating to public and officer safety, including tactical responses to critical incidents, assistance in disaster response, search and rescue operations, and surveillance functions.

The IMT Vislink system will serve as a replacement for a legacy system that suffered from limited range, unreliability and poor video resolution. By contrast, IMT Vislink equipment enables the transmission of HD real-time footage captured from airborne assets to multiple receive sites, allowing the sharing crystal-clear images and providing ground-based units with live pictures of exactly what is happening on the ground. A key feature of the IMT Vislink solution is interoperability with the systems of police forces in neighboring territories, which enhances joint policing operations.

“This new client order is our latest engagement with federal, state and local law enforcement entities across the country seeking to leverage video intelligence captured from their aerial assets,” John Payne IV, President of IMT USA. The IMT Vislink AVDS extends the efficacy of tactical operations by tightening integration with police airborne units. The heightened level of situational awareness our systems deliver mean faster and more accurate decision making on the ground. We look forward to working with this client to maximize their use of the system.”

A fully deployed IMT Vislink AVDS solution encompasses a fully integrated suite of components that includes the following equipment:

• lightweight, full-featured HD video downlink transmitters installed with access controllers in the aerial units;
• antenna systems strategically located around the desired coverage area;
• IP diversity aggregators that provide seamless switching and support both central receive and portable applications;
• Portable and handheld viewing devices for use on command vehicles

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

The post IMT Vislink Receives Order Valued at Approximately $100,000 for Airborne Video Downlink System (AVDS) From Prominent Mid-Atlantic State Police Agency appeared first on xG Technology.

SARASOTA, Florida, June 26, 2017 – 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, is aware of a press release issued by Purcell Julie & Lefkowitz, LLP claiming an alleged potential breach of fiduciary duty involving the Company’s board of directors. The Company has received no communication of any kind from this firm regarding such a claim. Moreover, no such claim or allegation has been made by any shareholders or regulatory body. The Company strongly believes there is no basis or merit behind the claim and, to that end, has reported this matter to the relevant authorities for appropriate action against those responsible.

“While xG Technology strongly believes that it is important to respond to legitimate shareholder inquiries, this claim is neither correct or legitimate,” stated George Schmitt, Executive Chairman and CEO of xG Technology. “The Company and its board of directors are committed to transparency in its actions and in making decisions properly on behalf of all holders of its securities. At the same time, the Company takes seriously any false and misleading allegations made against it, such as this one. Because frivolous claims such as these only to serve to injure shareholders, particularly smaller shareholders, xG Technology intends to vigorously defend itself using all means necessary if there is any follow-on action.”

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

The post xG Technology Responds to Law Firm Claim appeared first on xG Technology.

Vislink Chosen for its Ability to Provide High-Performance, Low Latency Video Transmissions Over Long Distances in Flexible System Configurations

SARASOTA, Florida, July 5, 2017 – xG® Technology, Inc. (“xG”) (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 Vislink business has received an order with an approximate value of $300,000 from a leading sports broadcast organization in the Middle East region for wireless video systems.

To fulfill the client’s requirements, Vislink designed and configured a fully integrated wireless video transmission system capable of supporting demanding open water-based sports competitions. Among the unique challenges the Vislink system addressed was the need to support extended video transmission distances of over 15 miles in extremely hot and humid conditions. Vislink created a solution that featured a series of transmitter and receiver systems specially housed in compact form factors that could guarantee robust performance, maximum transportability and flexible coverage support.

“This order is another example of our IMT and Vislink businesses offering innovative solutions to meet the challenges of dynamic sports broadcasting,” said George Schmitt, Executive Chairman and CEO of xG Technology. “IMT and Vislink have amassed long histories as key suppliers to prominent sports video production clients around the world, and they continue to deliver products recognized for their uncompromising performance, transmission quality, extended operating ranges, and configuration flexibility.”

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

The post Vislink Receives $300,000 Order for Wireless Video Systems from Leading Middle East Sports Broadcasting Organization appeared first on xG Technology.

SARASOTA, Florida, July 13, 2017 – 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, today announced preliminary record revenue results for the second quarter 2017 that exceed analyst expectations.

xG expects to report record revenue for the second quarter 2017 in the range of $14.1 million and $14.5 million. This is record revenues for two successive quarters since closing the Vislink acquisition in Q1 2017.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “We are pleased to release our preliminary revenue results in response to investor inquiries. During Q2 2017, we continued to generate positive momentum in our businesses, as displayed by our achieving record quarterly revenue that exceeded both internal and external forecasts. We have successfully completed the integration of key business functions of our Vislink and IMT brands, and are increasing sales traction in both our traditional and new markets. We expect the momentum to continue into the third quarter and beyond. We look forward to sharing more details shortly when we announce our full results.”

Roger Branton, CFO and co-founder of xG Technology, said, “xG expects to end second quarter 2017 with approximately $4.6 million in cash, and continues to work on reducing non-essential costs towards our goal of being cash flow positive for the year. We anticipate that we will report positive EBITDA (earnings before interest, taxes, depreciation and amortization) and net income for the second quarter 2017.”

xG has not finalized its financial statements for the second fiscal quarter of 2017. As a result, the information in this release is preliminary and based upon the information available to xG as of the date of this release. During the course of finalizing our financial results, items may be identified that would require the Company to make adjustments, which could be material. As a result, the preliminary selected financial information above is forward-looking information and subject to risks and uncertainties, including possible adjustments to the preliminary unaudited financial information.

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

The post xG Technology Announces Preliminary Financial Results that Exceed Analyst Expectations with Record Revenue for the Second Quarter 2017 appeared first on xG Technology.

SARASOTA, FL—July 17, 2017 —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 orders worth approximately $1 million for its HCAM HEVC (High Efficiency Video Coding) 4K Wireless Camera Systems for deployment in China. The orders are part of global pre-orders exceeding over $2.5 million received by Vislink for its latest wireless camera technology.

The Vislink HCAM, which was unveiled at NAB 2017, represents the next generation of HEVC 4K UHD wireless transmitters capable of supporting premium live broadcast events. These orders, which were placed by a key Vislink value-added reseller in the region, are for multiple systems and represent the latest in Vislink’s long history of supplying equipment to the China market, which dates back 15 years. The delivery of all systems is expected to take place by the end of 2017.

The Vislink HCAM systems will be at the forefront of a migration from existing H.264 technology to HEVC and low-latency 4K UHD for wireless camera systems expected to take place in China.

“This HCAM pre-order further emphasises market confidence in Vislink leading the development of next-generation wireless camera systems,” said James Walton, president of IMT, Ltd. and head of all IMT and Vislink business operations outside of the Americas.

“Vislink have received in excess of $2.5 million worth of pre-orders globally for the latest in wireless camera technology,” said David Robins, global sales director for Vislink. “With real-time testing taking place this coming week, we are really excited about rewarding our customers and partners for their continued commitment and confidence in the Vislink brand.”

“Our engineering teams have a passion for new technology, and HCAM proudly represents the first in a range of next-generation HEVC 4K Wireless Camera Systems designed with the customer in mind,” said Ashley Jackson, vice president of engineering for Vislink. “The HCAM design philosophy was to take the current industry standard products L1700, ClipOn4 and Campack2, and make something better. Needless to say, I am extremely pleased with the outcome of our new flagship product.”

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

The post xG Technology’s Vislink Business Receives Orders Worth Approximately $1 Million for HCAM HEVC 4K Wireless Camera Systems Deployment in China appeared first on xG Technology.

SARASOTA, FL—July 19, 2017 —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

The post xG Technology’s Vislink Business Receives $1.5 Million Order from Medical Device Manufacturer for Microwave Communications Equipment appeared first on xG Technology.

HCAM Brings High Efficiency Video Coding to ENG and Sports Broadcast Applications
with On-Camera Wireless Transmission Solution

AMSTERDAM, JULY 25, 2017 – xG® Technology, Inc. (“xG”) (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions for the broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announces that its Vislink business will showcase its new HCAM, an HEVC 4K UHD camera transmitter, to the European market at IBC 2017, the world’s largest media, entertainment and technology show. HCAM will be among the exciting products for broadcast, sports and entertainment being jointly presented by Vislink and IMT at Stand 1.A69 at the conference.

HCAM represents the next generation of HEVC 4K UHD on-camera wireless transmitters for broadcast, ENG and prosumer cameras due to its highly flexible and configurable mounting options and intuitive video interfaces. HCAM permits 4K UHD wireless video with a 70ms latency via Vislink’s world leading RF modulation.

“We are excited to showcase HCAM to the European market at IBC 2017,” says said George Schmitt, Executive Chairman and CEO of xG Technology.  “In releasing HCAM, Vislink has created an optimum solution that makes 4K UHD wireless transmission an attainable option. With user-interchangeable RF modules and a range of software options, HCAM continues the line of innovative, high-performance wireless camera systems from IMT and Vislink.”

HCAM features interchangeable, futureproof dual SFP modules supporting quad 3/6/12G SDI/HDMI/Fiber Optic/SMPTE 2022-6 HD-SDI over IP interfaces. It’s also designed with Wi-fi and Bluetooth® control via a dedicated Android^™ and iOS app. In addition, the unit features integrated camera control with Vislink FocalPoint compatibility and direct-docking V-Lock and Anton/Bauer® battery plates with integral power feed through. It is also compatible with Vislink’s L1750 range of transmitter modules.

“With the broadcast industry moving more and more towards 4K UHD programming, HCAM fills the need for reliable HEVC transmission,” adds Schmitt. “HEVC allows for better compression without sacrificing quality, especially when working with data-intensive 4K content. Broadcasters will now be able to go places and do things never before thought possible when out in the field as well as when covering live broadcast events.”

IBC is the largest worldwide annual event for broadcast and media professionals engaged in the creation, management and delivery of entertainment and news content. IBC attracts more than 55,000 attendees drawn from more than 170 countries, and is held each September in Amsterdam. Vislink is a longtime featured exhibitor at the event.

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

The post Vislink Showcases HCAM, Next Generation HEVC 4K UHD Wireless Camera Transmitter, at IBC 2017 appeared first on xG Technology.

Freshdesk Platform Enables a Global Unified Support Presence for all IMT and Vislink Customers

SARASOTA, FL—July 27, 2017 —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 IMT-Vislink business has launched a comprehensive customer technical support portal for its worldwide clients driven by the Freshdesk system.

Freshdesk is a leading cloud-based platform used to manage customer service and support interactions. It allows organizations to support their customers with multiple touch points including email, phone, website, and social media. Among the key features it provides are a customizable knowledge base, trouble ticketing system and the ability to provide 24/7 support.

Using Freshdesk, IMT-Vislink support personnel will be able to respond to customer needs in a timely manner as well as more accurately track issues from start to finish.  All customer support communications will now flow through a central system that is integrated with all other systems used for customer contact, allowing quicker response with accurate answers to whatever issues the customer may be experiencing. For IMT-Vislink customers, this will result in tighter turn-around times for repairs, faster responses to their requests, and full visibility into their support history for historical reference.

“Our corporate mission has always been to offer best-in-class technology, products and solutions that are exacting and quality-oriented,” said John Payne IV, president of IMT USA. “That mindset extends to our philosophy of customer service and support. With our launch of Freshdesk, we have put in place a comprehensive, centralized system for facilitating the delivery of an outstanding customer experience.”

“IMT-Vislink is proud of its partnership with Freshdesk as a means to improving the global customer experience,” said Christopher Blanchard, customer technical support manager for IMT-Vislink. “It will allow us to meet the customer’s need for efficient access and information, as well as allowing the customer to have the most ways to securely communicate with us.”

In the near future, IMT-Vislink will also be offering a mobile app for customers “on the go” to enter and review tickets from their cell phones and other smart devices, social media interfaces, as well as forums for customers which will all be driven by Freshdesk. This will ensure that, no matter how customers choose to communicate, IMT-Vislink will be ready to respond in a timely manner.

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

The post IMT-VISLINK LAUNCHES COMPREHENSIVE CUSTOMER SUPPORT PORTAL appeared first on xG Technology.

John Payne and IMT-Vislink Recognized for Spearheading the Wireless Ecosystem’s Market Launch

SARASOTA, FL—August 2, 2017—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 IMT-Vislink newsnet™ solution has won the 2017 Society of Broadcast Engineers (“SBE”) Technology Award. John Payne, president of IMT USA, and IMT-Vislink have been recognized by the SBE for spearheading the launch of newsnet—a wireless ecosystem that establishes a high-speed bidirectional IP network for ENG use.

The SBE Technology Award recognizes an SBE Individual or Sustaining Member who has provided the industry with the best new or innovative technical item or idea to further the science of broadcast engineering and to assist the broadcast engineer to be more productive in the craft. The Technology Award was part of the 2017 SBE National Awards that were announced July 28, 2017.

Newsnet establishes a bidirectional IP wireless data link utilizing reliable 2 GHz BAS spectrum that can be used without fear of contention, congestion or blocking. These connections are low-latency and high bandwidth, with large data rate increases with MIMO uplinks and downlinks, combined with adaptive modulation. Newsnet increases the number of live ENG transmissions and workflows that can be performed from the field. This results in higher production values, lower operational costs, workflow efficiency through doing more with less, and channel resilience provided by using BAS-licensed spectrum and the dynamic allocation of bandwidth to the most important transmissions.

“We are honored to have been recognized by the Society of Broadcast Engineers for our launch of the newsnet ecosystem,” said John Payne IV, president of IMT USA. “The benefits it offers to today’s broadcast professionals are significant and include dependable and high-quality transmissions, superior ease of use, a privately managed IP network, and the ability to leverage broadcast talent in the field.”

The 2017 SBE National Awards will be presented during the SBE National Awards Dinner on Oct. 26, at the SBE National Meeting in Denver, CO.

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.

About the Society of Broadcast Engineers

The Society of Broadcast Engineers is the professional organization of television and radio engineers and those in related fields. It is the only organization devoted to the advancement of all levels and types of broadcast engineering. The SBE has more than 5,100 members in 114 chapters across the United States. There are also members in more than 30 other countries. Most chapters meet monthly and offer educational programs and an opportunity to network with other broadcast technical professionals. SBE offers the preeminent technical broadcast certification program in the U.S. and an expansive list of educational programs for broadcast engineers, operators, technicians, and broadcast IT professionals.

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

The post IMT-Vislink Newsnet™ Solution Wins 2017 Technology Award from Society of Broadcast Engineers (SBE) appeared first on xG Technology.

Vislink Expands its Worldwide Presence in Law Enforcement, Public Safety and Defense Markets

SARASOTA, FL—Aug. 10, 2017 —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 orders valued at approximately $200,000 for specialized microwave communications equipment to be used in airborne surveillance and law enforcement operations by a police force in Africa. The orders are the first for Vislink for deployment by this end-user customer, and follow-on orders are expected to be received.

The Vislink equipment covered by these orders will be used in an airborne video downlink application. It was specifically chosen because its ruggedized design and ability to withstand the rigors of in-flight operations surpassed the capabilities of existing alternatives. Vislink delivered equipment customized to the specific mechanical requirements and flight characteristics of the end user customer’s aircraft.

This order is the latest in a number of contracts received by xG Technology’s IMT and Vislink units for airborne downlink systems and related components from local, state and national police and security organizations in the US, the UK and around the world.  With solutions designed for airborne, maritime, unmanned, plus ground vehicle and fixed site applications, IMT and Vislink combine the latest in microwave, satellite and cellular communication technologies to provide surveillance operators and senior officers with increased situational awareness, even in the most challenging conditions.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “This order continues the steady flow of wins recorded by IMT and Vislink in law enforcement, defense and homeland security markets. Their technology innovations, successful track record and dedication to meeting customer needs make them the de facto standard in mission-critical video transmission solutions.”

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

The post Vislink Receives $200,000 in Orders for Microwave Communications Equipment Used for Airborne Surveillance by African Police Force appeared first on xG Technology.

SARASOTA, FL—August 14, 2017 —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 its second quarter and first half 2017 results. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below. Management will hold a conference call to discuss these results on Wednesday, August 16, 2017 at 5:00 p.m. Eastern Time (details below).

Key Recent Accomplishments by xG Businesses

• Record quarterly revenues of $14.2 million and record first half revenues of $23.6 million which contributed to positive cash generated from operations and improved liquidity for the six months ended June 30, 2017.
• Introduced the Nulinx-IP Compact, a self-contained point-to-point, bi-directional microwave link.
• Unveiled the new HCAM, the next generation of HEVC 4K UHD wireless camera transmitters.
• Introduced the SatWare remote reporting computing platform to the North American market.
• Received an order valued at approximately $1.2 million for wireless camera systems from a major worldwide news organization.
• Received orders valued at over $700,000 for HD airborne video downlink systems from county law enforcement agencies located in California and Florida and the mid-Atlantic region.
• Was granted a new patent covering an innovative method for enhancing the resilience of communications systems in the face of harmful interference.
• Received orders valued at approximately $250,000 from prominent local television stations for high-performance digital microwave systems.
• Provided wireless camera transmission capabilities to support the live stream broadcast of the largest sailing event in the world.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “In the second quarter we experienced record revenue among our brands and recorded an impressive string of new business wins in the broadcasting and law enforcement fields, as well as seeing success in new markets, including medical device technology. We also began to aggressively release new products that solidify our technology leadership.”

Mr. Schmitt continued, “Having successfully completed the acquisitions of Vislink and IMT and the integration of operations by our senior management ahead of schedule contributed to positive cash generated from operations and improved our liquidity for the six months ended June 30, 2017.  We are now working on consolidating our financial systems in tandem with identifying and seizing profitable new business opportunities. Our record first half year puts us in an excellent position to capitalize on further growth through the remainder of 2017.”

Roger Branton, CFO and co-founder of xG Technology, said, “We are pleased to report that we had record quarterly revenue of $14.2 million in Q2 and a record $23.6 million for the first half.  An adverse movement in the British Pound to US Dollar exchange rate reduced revenues by approximately $424,000, otherwise revenue was $14.6 million for the quarter. We ended the six months June 30, 2017 with $4.7 million in cash, positive cash flow from operations and a substantial improvement in positive working capital of approximately $18 million.”

Mr. Branton continued, “Our first half results include a preliminary bargain purchase gain prepared by an independent valuation firm related to the Vislink acquisition of $15.5 million, which is an increase for the quarter of $3.7 million. Our results also include significant one-time charges related to purchase price amortization, acquisition related expenses and restructuring expenses that when excluded from our results, we reported positive net income and earnings before interest, taxes, depreciation and amortization.”

GAAP RESULTS    

• Gross margins were 31.8% of revenue in the second quarter 2017, compared to 50.8% of revenue in the second quarter of 2016. (Excluding one-time purchase price amortization charges, gross margins were 44.5% for the second quarter 2017, which was consistent with our current product mix.  Please see further explanation in Non-GAAP Results below).
• Revenues for the three and six months ended June 30, 2017 were $14.2 million and $23.6 million compared to $1.7 million and $2.6 million in the corresponding periods in 2016.
• For the three and six months ended June 30, 2017, the Company had a net loss of $1 million and net income of $7.3 million, respectively. This compares to net losses of $4.6 million and $8.6 million for the three and six months ended June 30, 2016.
• Net loss attributable to common shareholders was $1 million, or $(.09) per share in the second quarter of 2017 compared to a net loss of $6.0 million, or $(9.80) per share in the second quarter of 2016. Net income attributable to common shareholders was $7.3 million, or $.69 per share for the six months ended June 30, 2017 compared to a net loss of $10.4 million, or $(25.43) per share for the six months ended June 30, 2016.
• xG ended second quarter 2017 with $4.7 million in cash compared to $9.1 million at December 31, 2016 and $4.6 million at the end of the first quarter of 2017.
• Earnings before interest, taxes, depreciation and amortization (“EBITDA”) was a positive $149,000 and $9.9 million for the three and six months ended June 30, 2017.

NON-GAAP RESULTS

• Gross margins were 44.5% of revenue in the second quarter 2017, compared to 50.8% of revenue in the second quarter of 2016.
• Revenues for the three and six months ended June 30, 2017 were $14.6 million and $24.3 million compared to $1.7 million and $2.6 million in the corresponding periods in 2016.
• For the three and six months ended June 30, 2017, the Company had a net income of $3 million in the second quarter and net income of $15 million for the six months ended June 30, 2017. This compares to net losses of $4.6 million and $8.6 million for the three and six months ended June 30, 2016, respectively.
• Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) was $3.8 million and $17 million for the three and six months ended June 30, 2017, respectively.

NON-GAAP FINANCIAL MEASURES

We disclose non-GAAP financial measures as we believe they provide useful information on actual operating performance. Readers are cautioned that non-GAAP financial measures do not have any standardized meaning prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies.

Non-GAAP gross margin excludes the impact of purchase price amortization on the step up of assets as a result of the preliminary bargain purchase gain and the impact of foreign exchange gains or losses.

Non-GAAP income (loss) from operations excludes the impact of purchase price amortization related to the Vislink acquisition, acquisition-related expenses and restructuring expenses.

We use the above-noted non-GAAP financial measures for planning purposes and to allow us to assess the performance of our business before including the impacts of the items noted above as they affect the comparability of our financial results. These non-GAAP measures are reviewed regularly by management and the Board of Directors as part of the ongoing internal assessment of our operating performance. Adjusted EBITDA is defined as net income (loss) plus purchase price amortization, acquisition-related expense, restructuring expense, depreciation and amortization, foreign exchange gains or losses and interest expense.

Adjusted EBITDA is a metric used by investors and analysts for valuation purposes and we believe that it is an important indicator of our operating performance.

Financial Results Conference Call

xG management will hold a conference call to discuss xG’s Q2 2017 results on Wednesday, August 16, 2017 at 5:00 p.m. Eastern Time. To participate in the conference call, please call 1-844-825-9789 (toll free) or 1-412-317-5169 (international call-in) and ask to join the xG Technology call. The call will also be simultaneously webcast. Listeners can access the webcast live through the company’s website at http://www.xgtechnology.com/about-xg-technology/investor-information/. For those who cannot participate in the call, an audio replay will be available on xG’s website.

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

xG TECHNOLOGY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS EXCEPT PER SHARE DATA)

xG TECHNOLOGY, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(IN THOUSANDS EXCEPT NET LOSS PER SHARE DATA)

Reconciliation of GAAP to Non-GAAP Results

Our financial statements are prepared in accordance with US GAAP on a basis consistent for all periods presented.  In addition to results reported in accordance with US GAAP, we use non-GAAP financial measures as supplemental indicators of our operating performance. We disclose non-GAAP measures as we believe that these measures provide better information on actual operating results.

Readers are cautioned that non-GAAP financial measures do not have any standardized meaning prescribed by US GAAP and therefore may not be comparable to similar measures presented by other companies.

xG TECHNOLOGY, INC.

Q2 2017 RECONCILIATION OF GAAP to NON-GAAP RESULTS

xG TECHNOLOGY, INC.

FIRST HALF 2017 RECONCILIATION OF GAAP to NON-GAAP RESULTS

The post xG Technology Reports Second Quarter and First Half 2017 Results and Conference Call appeared first on xG Technology.

SARASOTA, Florida, August 16, 2017 – xG® Technology, Inc. (“xG”, “xG Technology”, 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, today announced that it has entered into definitive agreements with institutional investors to purchase an aggregate of approximately $3,200,000 of shares of common stock in a registered direct offering and common stock purchase warrants in a concurrent private placement.

The shares of common stock will be priced at $2.05.  The warrants sold in the private placement will be exercisable immediately following the date of issuance, will expire on the fifth (5^th) anniversary of the date they become exercisable, and have an exercise price of $2.50. At closing, xG anticipates that it will issue a total of 1,560,978 registered shares of common stock and unregistered warrants to purchase up to 780,489 shares of common stock.

The offerings are expected to yield total gross proceeds of approximately $3,200,000, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes. The closing of the offerings is expected to take place on or about August 18, 2017, subject to the satisfaction of customary closing conditions.

Aegis Capital Corp. is acting as the sole placement agent in connection with the offering. Maxim Group LLC is serving as a financial advisor to xG.

This registered offering is being made pursuant to an effective shelf registration statement (No. 333-197820) previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement and accompanying base prospectus describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained, when available, from Aegis Capital Corp., 810 7th Avenue, 18th Floor, New York, NY 10019 or via telephone at 212-813-1010 or email: prospectus@aegiscap.com.

The unregistered warrants were offered pursuant to the exemption from registration afforded by Section 4(a)(2) under the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder. Such warrants and the common shares issuable upon exercise of such warrants have not been registered under the Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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 and regarding the closing of the offering and anticipated use of proceeds. 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

The post xG Technology Announces $3,200,000 Registered Direct Offering and Concurrent Private Placement appeared first on xG Technology.

SARASOTA, Florida, August 18, 2017 – xG® Technology, Inc. (“xG”, “xG Technology”, 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, today announced the closing of its previously announced registered direct offering of 1,560,978 shares of its common stock at a an offering price of $2.05 per share and its concurrent private placement of common stock purchase warrants (the “Warrants”) to purchase 780,489 shares of common stock. The Warrants have a per share exercise price of $2.50, are exercisable immediately and will expire five (5) years from the date of issuance.

Gross proceeds to xG from these offerings are approximately $3,200,000, before deducting placement agent fees and other estimated offering expenses.

The Company intends to use the net proceeds from these offerings for working capital and other general corporate purposes.

Aegis Capital Corp. acted as the sole placement agent in connection with these offerings. Maxim Group LLC served as a financial advisor to xG.

The Shares were offered by the Company pursuant to a registration statement (File No. 333-197820) filed with the Securities and Exchange Commission (the “SEC”) that was declared effective on August 21, 2014, as supplemented by the prospectus supplement dated August 15, 2017, and filed with the SEC on August 17, 2017. The registration statement and prospectus are available on the SEC’s website located at http://www.sec.gov/. Copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained, when available, from Aegis Capital Corp., 810 7th Avenue, 18th Floor, New York, NY 10019 or via telephone at 212-813-1010 or email: prospectus@aegiscap.com.

The Warrants were offered pursuant to the exemption from registration afforded by Section 4(a)(2) under the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder. Such Warrants and the common shares issuable upon exercise of such Warrants have not been registered under the Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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 and regarding the closing of the offering and anticipated use of proceeds. 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

The post xG Technology Closes $3,200,005 Registered Direct Offering and Concurrent Private Placement appeared first on xG Technology.

Compact, State-of-the-Art Transmitters and Receivers Ideal for Broadcast, Sports and Entertainment Applications

AMSTERDAM, AUGUST 24, 2017 – xG® Technology, Inc. (“xG”) (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions for the broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announces that its IMT and Vislink companies will be displaying a variety of wireless camera transmitters and receivers at this year’s IBC show (Stand 1.A69). Among the products being showcased jointly by IMT and Vislink are the IMTDragonFly, microLite and INCAM-G transmitters, as well as the UltraReceiver and DR3 receivers.

“We are excited to show our world-class wireless transmission solutions to the European market at IBC 2017,” says George Schmitt, CEO and chairman of the board of xG Technology. “IMT and Vislink deliver cost-effective solutions that can really make a difference in the field due to their reliability, portability and adaptability to various broadcast environments. The synergy between IMT and Vislink allows us to offer first-class solutions for collecting and delivering secure, high-quality video from live news, sporting and entertainment events.”

A superior miniature wireless video transmission system, the IMTDragonFly transmitter is designed to capture real-time, high-quality video from UAV/UGV/Body Cams/Concealments for display on fixed or mobile receive applications. The transmitter features HD/SD-SDI or optional HDMI inputs with COFDM transmission in a small, lightweight chassis. The IMTDragonFly delivers up to 100mW of power in a package weighing less than 1.2 ounces/34 grams, providing long range, reliable HD video transmission.

The microLite COFDM HD Transmitter is a portable system of wireless camera transmission links for high-quality video applications of up to one-mile line-of-sight (LOS). It provides exceptional range at no cost to the microLite HD’s signature portability. Featuring superb H.264 SD and HD encoding capabilities and operating in the standard 2k DVB-T COFDM mode, the H.264 video encoder supports the main profile of the H.264 standard and therefore provides a 30 percent bit-rate reduction or video-quality improvement compared to encoders that only support the H.264 baseline profile.

Built into the Grass Valley LDX series HD camera, the INCAM-G wireless camera transmitter provides full HD broadcast quality encoding at 1080p, 1080i and 720p, as well as built-in wireless camera control. The INCAM-G transmitter has ultra-low delay down to 20ms H.264 and a full configuration available by Windows™ PC software.

Perfect for broadcast sports and ENG news coverage with wireless cameras, the UltraReceiver is a 1RU half-width, rackmount chassis receiver. The versatile receiver features four UHF inputs with maximum-ratio combining, DVB-T and proprietary LMS-T demodulation, as well as ASI and IP capabilities.

Ideal for the most demanding central receive and portable applications, the DR3 IP Diversity Receiver is the first receiver to offer a built-in IP diversity switch. It is designed to work with Nucomm’s High Dynamic Range Block Down Converters (HDRBDC), which automatically compensate for cable loss. Highly modular and scalable, the DR3 allows users to daisy chain up to eight receivers to share the same set of antennas. Each DR3 acts as a redundancy to the HDRBDC, ensuring high reliability.

To check out the full range of wireless camera transmitters and ENG broadcast solutions provided by IMT and Vislink, please check out www.imt-solutions.com  or http://www.vislink.com/ for more information.

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 and Vislink are the leading suppliers of advanced digital microwave systems for capturing, transmitting and managing secure, high-quality, live video, and serve tier-1 global customers in the broadcast/sports/entertainment, and law enforcement/public safety/defense markets. Their products are recognized for high levels of performance, reliability, build quality, extended operating ranges and compact form factors. In the broadcast, sports and entertainment sectors, IMT and Vislink provide high-definition communication links to reliably collect and distribute live event footage. In the law enforcement, public safety & defense markets, IMT and Vislink provide secure video communications and mission-critical solutions to local, national and international agencies and organizations. More information can be found at www.imt-solutions.com and www.vislink.com.

xMax is a secure, rapid-deploy mobile broadband system that delivers mission-assured wireless connectivity in demanding operating environments. xMax was specifically designed to serve as an expeditionary and critical communications network for use in unpredictable scenarios and during fluid situations. This makes it a compelling solution 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

The post IMT AND VISLINK HIGHLIGHT ARRAY OF WIRELESS CAMERA TRANSMISSION SOLUTIONS AT IBC 2017 appeared first on xG Technology.

Will Leverage Vislink Technology to Deliver Impressive New and Improved Efficiencies and Services to Rail Operations

SARASOTA, FL—September 11, 2017 — 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 entered into an agreement with Panasonic System Solutions Europe (“Panasonic”) to collaborate on projects to bring Vislink’s proven video communications technology to the rail industry. This technology has the potential to deliver unprecedented capabilities and enhancements to rail operations.

Vislink’s decades-long experience in the design and delivery of reliable, high-quality video transmission systems built to perform in demanding environments brings unique and compelling benefits to the rail industry. Vislink solutions are perfectly suited for situations that involve high-speed vehicles, the effects of shock and vibration and challenging RF (radio frequency) conditions, which are all typical in rail operations.

James Walton, President of IMT Ltd., and head of IMT and Vislink operations outside of the Americas, said, “We are pleased to embark on this exciting partnership with Panasonic to introduce our technology to the rail market, where it has the opportunity to significantly improve efficiency of operations, leading to new and better services, enhanced reliability and improved passenger safety. We have a successful history of working with the team at Panasonic, combining our wireless systems with their broadcast video products for use at many events and installations around the world. By formalizing this partnership, it brings our technical and commercial teams even closer together. We are confident that this will allow both companies to leverage their respective strengths to work on shared projects that have the potential to positively impact new markets.”

The collaboration with Panasonic leverages Vislink’s proven proficiency in onboard wireless technologies that it has developed for use in demanding, real-time sports broadcasting, as well as their pedigree as a trusted provider of mission-critical video solutions for law enforcement, defense and public safety applications.

For its part, Vislink’s collaboration with Panasonic follows its strategy of partnering with tier-one technology providers to jointly identify and pursue business opportunities in targeted vertical markets. In joining forces with Panasonic, Vislink has aligned itself with a leading provider of technology solutions and a major player in the European transportation sector.

Tony O’Brien, Managing Director of Panasonic System Solutions Europe, said, “We have a stated aim of providing the connected technology solutions for a safer, more efficient rail industry. We needed to find the right technology partner to help us in this challenging environment and in Vislink we have found it. Together, we can solve long standing challenges that the industry faces, such as the ability to offer latency-free surveillance across the rail network. By combining Panasonic’s innovative surveillance technology with Vislink’s wireless technology this is now a step closer.”

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.

About Panasonic System Solutions Europe 

Panasonic System Solutions Europe (PSSEU), a division of Panasonic Marketing Europe, was founded in April 2016 and develops world class solutions for larger customers offering a single point of contact and accountability.  These solutions involve Panasonic hardware, software, connectivity capability and third party products, delivered with world class engineering and project management and services. Industries in focus are energy, transportation and logistics.
FOR MORE INFORMATION

xG Technology:
Daniel Carpini
941-953-9035
daniel.carpini@xgtechnology.com

Panasonic System Solutions Europe:
Michael Pullan
+44 (0) 1344 853856
michael.pullan@eu.panasonic.com

The post Vislink Enters into Agreement with Panasonic to Bring Unprecedented Video Communications Capabilities to the Rail Industry appeared first on xG Technology.