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xG Technology Inc. (XGT)

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Monday 16 September, 2013

xG Technology Inc.

xMax Beta test

RNS Number : 0446O
xG Technology Inc.
16 September 2013
 

 

September 16, 2013

 

 

xG Technology, Inc.

 ("xG", "xG Technology" or the "Company")

 

xG Technology Deploys xMax Cognitive Radio Beta Network

Will enable in-depth field testing and end user feedback

xG Technology (Nasdaq: XGTI, XGTIW; AIM: XGTU.L, XGT.L), a developer of wireless communications and spectrum sharing technologies, today announced that it has deployed xMax equipment for a beta network to be operated in cooperation with NEFCOM, the local Internet and telecom service provider. xG will use the beta network to validate various features and capabilities of the xMax system, including range, throughput, mobile hand-off, software updates and other key features and to demonstrate that xG's patented interference mitigation technology enables reliable operation of carrier-grade wireless broadband networks in shared, licensed and unlicensed frequencies.

The deployment consists of multiple xMax xAP wireless access points installed in two separate locations to provide broadband data and voice coverage to the downtown areas of Macclenny and Glen St. Mary in northern Florida. End users, selected from the employees and customers of NEFCOM, will use the xMax system for a wide variety of applications. 

"The deployment of the beta network is a major milestone and is the result of ongoing efforts and innovations from the xG team," said John Coleman, CEO of xG Technology. "It will provide us with valuable real-world feedback on the end-to-end performance of the system, as well as from end-users as they put it to use in their daily activities. We look forward to working with NEFCOM, and appreciate their contribution of network connectivity, technical support and customer access."

xMax is a comprehensive fixed and mobile broadband solution that is designed for rapid deployment and low operating costs. It offers a carrier-grade user experience and can serve as a network backbone or last-mile solution for a number of markets and applications. xMax leverages Software Defined Radio (SDR) and Cognitive networking technology that enables efficient sharing of both licensed and unlicensed spectrum.

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Contacts

xG Technology, Inc.

www.xgtechnology.com

John Coleman, Chief Executive Officer

+1 212 651 4219

Roger Branton, Chief Financial Officer

+1 212 651 4219

James Woodyatt, Investor Relations

+1 954 572 0395



Allenby Capital Limited

www.allenbycapital.com

(Nominated Adviser and Joint Broker)


Nick Naylor

+44 20 3328 5656

Mark Connelly

+44 20 3328 5656



First Columbus LLP (Joint Broker)

www.first-columbus.com

Chris Crawford

+44 20 3002 2070



Fusion PR (Media and Analyst Relations)

www.fusionpr.com

 

 

David Worthington

+1 212 651 4200

ABOUT XG TECHNOLOGY

xG Technology, Inc. develops a broad portfolio of intellectual property to make wireless networks more intelligent, accessible, affordable and reliable.  The company has created xMax, a patented all-IP cognitive radio technology that enables spectrum sharing. xMax can solve the crisis facing the wireless industry caused by data-hungry devices and applications that are straining network capacity. It eliminates the need to acquire scarce and expensive licensed spectrum, thus lowering the total cost of ownership for wireless broadband access. xG's goal is to help wireless broadband network operators make more efficient use of their spectrum allocations and to create new opportunities for innovation in unlicensed spectrum. The xMax cognitive radio system incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation and self-organizing networks. xG offers solutions for numerous industries worldwide, including urban and rural wireless broadband, utilities, defense, emergency response and public safety.

Based in Sarasota, Florida, xG has over 60 U.S. and over 140 international patents and pending patent applications, and its technology is available for licensing in both domestic and foreign markets. xG is a publicly traded company listed on the NASDAQ Capital Market and on the London Stock Exchange's Alternative Investment Market (AIM). On the NASDAQ, xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. On the AIM, xG's unrestricted shares trade under the stock symbol XGTU.L and xG's restricted 'Reg S' shares trade under the stock symbol XGT.L. 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.

 


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