xG Technology (NASDAQ: XGTI, XGTIW), a provider of critical wireless communications for use in challenging operating environments, this morning announced its binding agreement to acquire the assets of the Vislink Communication Systems division from Hungerford, United Kingdom-based Vislink, Plc. The deal is expected to close by year-end 2016. “We believe that Vislink chose to sell the division to a purchaser that would operate the business as a going concern, versus financial acquirers. We further believe that the combined business will create a market leader in video technology providing scale and global reach. Considering the inherent synergies with our business unit Integrated Microwave Technologies, we believe the fair value of the ongoing business and assets far exceeds the purchase price,” Roger Branton, CFO and co-founder of xG Technology, stated in the news release.
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About xG Technology, Inc.
Founded in 2002, xG Technology has created a broad portfolio of intellectual property that enables always-available, always-connected and always-secure voice, broadband data and video communications. The company is the developer of xMax, a patented all-IP software-defined cognitive radio network that delivers mission-assured wireless connectivity in any RF environment. xMax provides a solution to the challenges of interoperability, survivability and flexibility in expeditionary and critical communications networks. xMax can be deployed as fixed or mobile infrastructure to enhance and integrate seamlessly with legacy communications systems, both private and commercial. Access and priority can be controlled, and in the event of congestion, failure or denial of access to commercial networks, xMax provides a fully secure, scalable, private and highly resilient network for essential communications – all at zero bandwidth cost.
xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment in unpredictable environments and during fluid situations. xG offers solutions for numerous industries worldwide, including military, emergency response and public safety, telemedicine, urban and rural wireless broadband, utilities, and critical infrastructure.
xG’s Integrated Microwave Technologies (IMT) business unit further supports xG’s military and public safety customers with its mission-critical wireless video solutions. IMT is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the MAG (Military, Aerospace & Government), broadcast, and sports & entertainment markets. IMT’s product lines include digital broadcast microwave video systems and compact microwave video equipment for licensed and license-free applications. More information on IMT can be found at www.imt-solutions.com.
Based in Sarasota, Florida, xG 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
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