SARASOTA, Fla., Dec. 4,
2013 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company")
(Nasdaq: XGTI, XGTIW; AIM: XGTU.L, XGT.L), a developer of wireless
communications and spectrum sharing technologies, has successfully
recruited and hired six veteran sales and customer service
executives to the Company. Building Sales and Customer
Services capabilities is a key element in xG's growth strategy as
it ramps up volume production and delivery of xMax cognitive radio
networks. These team members come from market leading
companies such as Motorola and Symbol Technologies, and bring a
wide range of skillsets that strengthen xG's ability to drive
revenue and customer satisfaction, including solutions selling,
post-sale services delivery, and reverse logistics expertise.
Commenting on the announcement, John
Coleman, CEO of xG Technology said, "We are excited to add
the skills, contacts and capabilities of these seasoned,
highly-qualified sales and customer service executives to xG. It is
crucial that our market-leading xMax cognitive radio solution is
sold, supported and serviced at the highest levels that reinforce
the product's total value proposition. We are confident that these
new team members will provide the caliber of leadership and
experience needed to identify and penetrate new markets while
delivering world-class support and service to xG's customers."
xMax is a comprehensive fixed and mobile broadband solution that
is designed for rapid deployment and low operating costs. It offers
a carrier-grade user experience and can serve as a network backbone
or last-mile solution for a number of markets and applications.
xMax leverages software defined radio (SDR) and cognitive
networking technology that enables efficient sharing of both
licensed and unlicensed spectrum.
About xG Technology
xG Technology has created a broad portfolio of intellectual
property that makes 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 60 U.S. and over 130 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
Jody Burfening/Carolyn Capaccio
LHA (Investor Relations)
www.lhai.com
(212) 838-3777
SOURCE xG Technology, Inc.