May 23 IMT VISLINK RECEIVES $1.4 MILLION CONTRACT TO SUPPLY AIRBORNE VIDEO DOWNLINK, TRANSMIT AND RECEIVE SYSTEMS TO THE U.S. AIR FORCE
SARASOTA, FL-May 23, 2018 - xG Technology, Inc. ( xG or the Company ) (Nasdaq: XGTI, XGTIW), whose IMT and Vislink brands are recognized as the global leaders in live video communications in the broadcast, law enforcement and defense markets, today announced that its IMT Vislink business has been awarded a $1.4 million order to supply airborne video downlink solutions to the U.S Air Force. The contract calls for the supply of transmit and receive systems, ground-based units designed to display real-time video imagery taken by aerial assets, related component and accessories, and training services.
IMT Vislink previously received an order to supply similar systems to the U.S. Army (announced on November 20, 2017), which itself was the third contract received from the Army since 2013 in fulfillment of the same requirement.
John Payne IV, President of IMT USA, said, We are honored to have been again trusted to supply crucial technology to aid the efforts of our forces overseas. It is a testament to the decades of experience we have built providing robust and secure wireless video communications and mission-critical solutions for use by defense, homeland security and law enforcement organizations across the U.S. and around the world.
IMT Vislink downlink technology is built around an air-to-anywhere philosophy that allows real-time video to be collected, distributed and managed across all deployed assets. With thousands of digital microwave radio systems deployed, they are the de facto standard in high performance, rapidly deployable systems that meet the most stringent requirements.
About xG Technology, Inc.
xG Technology's IMT and Vislink brands are recognized as the global leaders in live video communications and are trusted suppliers to tier-1 customers in broadcast/sports/entertainment, and law enforcement/public safety/defense markets. Their products are recognized for high levels of performance, reliability, build quality, extended operating ranges and compact form factors. In the broadcast, sports and entertainment sectors, IMT and Vislink provide high-definition communication links to reliably capture, transmit and manage live event footage. In the law enforcement, public safety & defense markets, IMT and Vislink provide secure video communications and mission-critical solutions to local, national and international agencies and organizations. More information can be found at www.imt-solutions.com and www.vislink.com.
xG is also the developer of xMax, a secure, rapid-deploy mobile broadband system that delivers mission-assured wireless connectivity in demanding operating environments. xMax was specifically designed to serve as an expeditionary and critical communications network for use in unpredictable scenarios and during fluid situations. This makes it a compelling solution for disaster response, emergency communications, and defense applications. More information about xMax can be found at http://www.xgtechnology.com/system-overview/. In addition to the above business lines, xG has a dedicated Federal Sector Group (xG Federal) focused on providing next-generation spectrum sharing solutions to national defense, scientific research and other federal organizations. Additional information about xG Federal can be found at http://www.xgtechnology.com/technology/xg-federal/.
Based in Sarasota, Florida, xG Technology has over 100 patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market (symbol: XGTI) 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.
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For More Information
xG Technology:
Daniel Carpini
941-953-9035
daniel.carpini@xgtechnology.com
Investor Relations:
John Marco/CORE IR
516-222-2560
johnm@coreir.com
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