SARASOTA, Fla., Aug. 28, 2013 /PRNewswire/ -- xG Technology,
Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW; AIM: XGTU.L,
XGT.L), the developer of a portfolio of wireless communications
technologies, including spectrum sharing solutions, today announced
that it has been granted eight new patents. The patents cover a
wide range of innovations that will enable it to offer
differentiated mobile broadband solutions to a wide range of
customers and applications. The inventions covered by these patents
simplify and reduce the cost related to the deployment and
operation of fixed and mobile broadband networks. These patents
further strengthen xG's capability to deliver solutions that can
operate in licensed, unlicensed and shared spectrum bands.
As smart device usage, media-rich content and location-aware
apps push global wireless data traffic to unsustainable levels,
spectrum sharing is seen as a solution to the capacity problem
faced by mobile operators, public safety, Homeland Security and
Department of Defense agencies.
"With government, industry and public advocacy groups
recognizing that spectrum sharing represents the most efficient way
of addressing the nation's spectrum needs, it is imperative that
the technology innovations in this field keep pace," said Tandhoni
Rao, Ph.D., CTO and Managing Partner of Salbec, LLC and a previous
technical advisor to xG. "As evidenced by this patent announcement,
xG is continuing to invest in its cognitive radio technology
foundation in ways that will enable it to offer market-leading
solutions that solve many of the issues faced by the wireless
industry."
These newly granted patents underscore the Company's
increasingly valuable Intellectual Property (IP) portfolio as well
as its growing leadership in the rapidly expanding cognitive radio
and shared spectrum networking field. The New
York Times has named xG as a company "developing technology
that could change the whole spectrum game by using radio
frequencies more efficiently."
"As the demand for spectrum sharing solutions continues gaining
traction in the marketplace, xG's expanding IP portfolio will
enable the Company to deliver powerful, patent-protected
technologies to meet this need," said Joe
Bobier, CTO of xG. "The inventions covered in these patents
enable xG to offer cost-effective and unique solutions that have
the potential to fundamentally change how wireless networks operate
in increasingly crowded frequencies and channels."
As of the date of this release, xG's United States patent portfolio includes 47
patents granted, with an additional 15 patent applications pending.
The Company's foreign patent portfolio totals 141 patent matters
(issued and pending).
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.
For More Information:
David Worthington
Fusion PR (Media and Analyst Relations)
www.fusionpr.com
(212) 651-4200
James Woodyatt
xG Technology, Inc (Investor Relations)
www.xGtechnology.com
(954) 572-0395
SOURCE xG Technology, Inc.