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NetworkNewsBreaks – xG Technology, Inc. (NASDAQ: XGTI) Finalizes Deal to Acquire Vislink Communication Systems; Shares soar

Company: xG Technology, Inc. (XGTI)
Category: News

Shares of xG Technology (NASDAQ: XGTI, XGTIW) are higher this morning after the company detailed its final definitive business purchase agreement to acquire Vislink Communication Systems from Vislink, Plc. The integration of Vislink is expected to add substantial revenue to xG’s overall operations and offer the opportunity to realize numerous synergies with its IMT business unit. “The Vislink deal, which builds upon our prior purchase of IMT, underscores our plan to effect strategic acquisitions that further the Company’s long-term growth objectives. In the same way that we were successful in achieving efficiencies in all our business operating areas after acquiring IMT, we expect the Vislink acquisition to result in significant cost savings once it is fully integrated,” xG Technology CFO Roger Branton stated in the news release.

To view the full press release, visit: http://nnw.fm/Fv84y

About xG Technology, Inc.

Founded in 2002, xG Technology has developed technologies that enable always-available, always-connected and always-secure voice, broadband data and video communications. The company’s brand portfolio includes xMax and Integrated Microwave Technologies (IMT). xMax is a patented all-IP, software-defined cognitive radio network that delivers mission-assured wireless connectivity in any RF environment. It provides a solution to the challenges of interoperability, survivability and flexibility in expeditionary and critical communications networks. xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR), making it ideal for wide area, as well as rapid emergency communication deployment in unpredictable environments and during fluid situations. xMax offers solutions for numerous industries worldwide, including military, emergency response and public safety, telemedicine and critical infrastructure. IMT is a leading provider of mission-critical video solutions, advanced digital microwave systems and engineering, integration, installation and commissioning services serving the Broadcast, Sports & Entertainment and MAG (Military, Aerospace & Government) markets. Since its inception, IMT has focused on building a product portfolio that incorporates a high level of performance, reliability and build quality, extended operating ranges and compact form factors. IMT’s product lines include digital broadcast microwave video systems, compact microwave video equipment for licensed and license-free sports and entertainment applications, and wireless video solutions designed for use by state, local and federal police departments. More information on IMT can be found at www.imt-solutions.com

About NetworkNewsBreak

NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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