SARASOTA, Fla., Dec. 3, 2013 /PRNewswire/ -- xG Technology,
Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW; AIM: XGTU.L,
XGT.L), a developer of wireless communications and spectrum sharing
technologies, has validated that all xMax products delivered by its
contract manufacturer, Tropical Assemblies (Tropical), meet xG's
strict quality standards and specifications. The Company will now
commence with its plan to completely transition all production and
testing to Tropical during the first quarter of 2014. This is a
major step forward and will enable xG to satisfy its sales backlog,
while rapidly scaling production capacity to fill new orders. xG
took delivery of complete product assemblies and then conducted
extensive in-house quality tests that successfully validated the
quality of each unit.
"We are pleased that Tropical Assemblies completely delivered on
their promise of high quality and fast delivery. With funding now
in place, we are executing on our growth strategy, including volume
xMax production by ISO certified manufacturing facilities," said
John Coleman, CEO of xG Technology.
"This achievement will enable xG to ramp volumes up quickly,
facilitating the delivery of xMax wireless networks to fulfill new
and existing customer orders. Given the success of this production
run, we expect that all aspects of product manufacturing, assembly
and testing will be transitioned to Tropical during the first
quarter of 2014."
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.
About xG Technology
xG Technology has created a broad portfolio of intellectual
property that makes 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 60 U.S. and over 130 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.
About Tropical Assemblies
Established in 1993, Tropical Assemblies, Inc. is the most
technically advanced electronics contract manufacturer in
South Florida and is an ITAR
registered facility. Tropical is certified to both
ISO9001:2008 and AS9100:2009 Quality Management Systems for high
reliability manufacturing with certified personnel to IPC-610E
(Class 2 & 3), IPC 620 and J-STD Soldering. The facility is
equipped with state of the art robotic manufacturing lines with
fully trained operators. The company is a turnkey supplier to major
OEM's in the defense, aerospace, RF/wireless, and medical
industries.
For more information, please visit
www.tropicalassemblies.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:
David Worthington
Fusion PR (Media and Analyst Relations)
www.fusionpr.com
(212) 651-4200
Jody Burfening/Carolyn Capaccio
LHA (Investor Relations)
www.lhai.com
(212) 838-3777
SOURCE xG Technology, Inc.