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11 April 2007
xG Technology, Inc.
APPOINTMENT OF NOMAD & EXCLUSIVE FINANCIAL ADVISOR
xG Technology, Inc. ("xG
Technology"and "xG") (AIM: XGT), the Florida based
communications technology business, today announces that it has appointed Piper Jaffray Ltd. as its
Nominated Adviser and exclusive Financial Advisor with
immediate effect.
For further xG Technology news please visit:
www.xgtechnology.com NEWS/INVESTORS
- Ends -
Enquiries:
Rick Mooers, Chairman and CEO
Roger Branton, COO and CFO
020 7638 9571
Xavier Moreels, Managing Director
Nigel Daly, Principal
Jim Steel, Vice President
Piper Jaffray Ltd.
020 3142 8700
Seb Hoyle
Lucie Holloway
Citigate Dewe Rogerson
020 7638 9571
ABOUT XG
TECHNOLOGY
XG
TECHNOLOGY’S BUSINESS
Based in Florida, USA, xG Technology has developed
innovative technologies that the directors believe have the
potential to change the building blocks, capabilities and
economics of the communications industry. Its patented
technologies can be applied to almost any type of
communication including voice, data or video in wired or
wireless form.
xG Technology is now designing a mobile VoIP (Voice over
Internet Protocol) base station and handset product line.
Branded as xMax, these products are intended to be sold to
regional carriers (internet service providers, competitive
local exchange carriers and entrepreneurial parties) seeking
to deliver mobile Internet Protocol services directly to
consumers without using the incumbent circuit switched or
coaxial cable networks. In time, it is intended that the
xMax product line will expand from mobile VoIP to offer
integrated video and data applications.
MARKET AND COMPETITION
There is a wide variety of wireless technologies in the
marketplace. The Directors believe that the key issue
keeping these technologies from achieving greater success is
the price versus performance of existing options. xMax
changes this price/performance relationship by enabling the
delivery of mobile IP services with less infrastructure
using low-cost and readily available unlicensed radio
spectrum.
xG Technology believes that xMax will be a viable solution
for mobile VoIP for a number of reasons:
-
xMax is an IP solution rather than a circuit
switched solution; this is a prerequisite for handling the
VoIP application;
-
xMax delivers high speed data in the order of Mbps rather
than Kbps, which is essential for supporting large numbers
of subscribers;
-
xMax has a low latency physical layer, resulting in high
network efficiency;
-
xMax’s signal profile also allows for improved
range/coverage and better signal penetration, which is
essential for maintaining call session reliability; and
-
although this feature is not central to the VoIP application
itself, xG Flash Signal’s ability to deliver wireless
signals with far less RF output power than conventional
applications means that wireless VoIP handsets will show
improved battery life over other solutions.
ABOUT PIPER JAFFRAY
Piper Jaffray Companies is a leading, international middle
market investment
bank and institutional securities firm, serving the needs of
middle market
corporations, private equity groups, public entities,
nonprofit clients and
institutional investors. Founded in 1895, Piper Jaffray
provides a comprehensive
set of products and services, including equity and debt
capital markets
products; public finance services; mergers and acquisitions
advisory services;
high-yield and structured products; institutional equity and
fixed- income sales
and trading; and equity and high-yield research. With
headquarters in
Minneapolis, Piper Jaffray has 25 offices across the United
States and
international locations in London and Shanghai. The firm's
UK operating
subsidiary, Piper Jaffray Ltd., is authorized and regulated
by the Financial
Services Authority and is a member of the London Stock
Exchange. (NYSE:PJC;
http://www.piperjaffray.com)
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