xG Technology Inc. Update on patents granted (6964M)
August 29 2013 - 1:02AM
UK Regulatory
TIDMXGT TIDMXGTU
RNS Number : 6964M
xG Technology Inc.
29 August 2013
xG TECHNOLOGY EXTENDS LEADERSHIP IN SPECTRUM SHARING SOLUTIONS
WITH EIGHT NEW PATENTS GRANTED TO DATE IN 2013
Innovative Technologies Being Developed and Patented by xG's
Engineers are Driving New Techniques, Hardware and Software that
Allow Highly Customer-Centric Solutions
Sarasota, Florida-August 29, 2013-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).
END
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 www.first-columbus.com
Broker)
Chris Crawford +44 20 3002 2070
Fusion PR (Media and Analyst www.fusionpr.com
Relations)
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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