January 28, 2013
xG Technology, Inc.
(“xG”, “xG Technology” or the “Company”)
xG Technology, Inc. receives $10 million order for xMax broadband
network equipment from TelAtlantic Wireless Services, LLC
xG® Technology, the developer of a portfolio of wireless communications technologies, including cognitive radio networks, is pleased to announce that it has received a $10 million purchase order from TelAtlantic Wireless Services, LLC (“TWS”), an Alexandria, Virginia-based company whose management is affiliated with multiple rural local exchange carriers in the Appalachian Region and Mid-America.
"In the current uncertain regulatory environment, there is a need to evolve as a provider of telecommunications service. To achieve this, our goal is to introduce new regulated and non-regulated products and services in rural communities," said Jim Crabtree, Vice Chairman of TWS. "We are proud to play a key role in incorporating game-changing technologies such as xG's xMax mobile broadband solution that helps us offer state of the art services to rural America."
This purchase order brings the total announced backlog of orders and reseller agreements for xMax equipment and services to over $29.6 million. This order continues to demonstrate the growing appeal of xMax into a wide range of vertical and geographic markets including public safety, gaming and casinos, government, education and rural telephone companies.
The xMax cognitive radio solution provides a key advantage to TelAtlantic Wireless Services and other service providers operating in the rural telecom market. These providers have traditionally had limited options for deploying wireless services due to a lack of appropriate or sufficient licensed spectrum assets. xMax has the ability to operate in unlicensed spectrum, which enables the delivery of reliable wireless voice and broadband services without the need for costly licensed frequencies.
George Schmitt, xG Director and CEO of MB Technology Holdings, the parent company of xG, said, “We are very honored to receive this order from TWS. Rural broadband is a growing market for xG, and this order supports our mission of delivering high-performance, cost-effective xMax wireless networks to the thousands of rural and independent service providers seeking an effective broadband solution.”
The order covers xMax cognitive radio networking equipment that includes xMax wireless access points, xMod personal hotspots (capable of supporting existing smartphones, tablets and laptops) and xMSC mobile switching centers purchased over a period of three years and across three separate market areas. Orders scheduled for deployment in year two and three are dependent on network acceptance of the initial xMax system installation. Under the terms of the orders, xG will be paid upon the delivery of xMax equipment to TelAtlantic Wireless Services, which is intended to commence in the second half of 2013.
xG Technology, Inc.
John Coleman, Chief Executive Officer
+1 212 651 4219
Roger Branton, Chief Financial Officer
James Woodyatt, Investor Relations
+1 954 572 0395
Allenby Capital Limited
(Nominated Adviser and Joint Broker)
+44 20 3328 5656
First Columbus LLP (Joint Broker)
+44 20 3002 2073
Fusion PR (Media and Analyst Relations)
+1 212 651 4200
ABOUT xG TECHNOLOGY
xG Technology is a leading developer of innovative and disruptive communications technologies for wireless networks. Its patented intellectual property portfolio covers a broad range of applications, including smart wireless networks that can help address the global wireless spectrum crisis through advanced technology. xG is commercializing some of these technologies to create xMax, the world’s first carrier-class cognitive (i.e. smart) radio network. The Company’s technology provides ways to significantly increase the efficient use of spectrum, allowing network operators to offload existing voice or data traffic, reduce dropped calls, and enhance network capacity for their customers. xMax’s standards-based IP architecture minimizes network deployment, management and operational costs while simplifying the delivery of high quality fixed and mobile voice and data services. xMax can enhance and extend any wireless network, and provides an economical last mile solution for hard to reach customers and devices. Using field-proven technology, xMax enables the delivery of mobile broadband services to consumers, agencies and enterprises worldwide in both licensed and free unlicensed bands. Based in the USA, xG has over 60 US and more than 140 international patents and pending patent applications. xG’s intellectual property is available for licensing in domestic and international markets. For more information, please visit www.xgtechnology.com.
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