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Will be Used at the Winter Olympics in South Korea in February 2018 and at the Commonwealth Games in Australia in August 2018
SARASOTA, FL, OCTOBER 12, 2017 - xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced that its Vislink business has received a $535,000 order from NEP UK for the latest Vislink HEVC (High Efficiency Video Coding) 4K-capable HCAM Wireless Camera Systems with Focal Point Camera Control. The systems will be used at the Winter Olympics in South Korea in February 2018 and at The Commonwealth Games in Australia in August 2018.
"This commitment from NEP further solidifies our relationship, and continues to highlight the market confidence in the HCAM with pre-orders now over $2 million. I'm delighted with our progress and how our relationship with NEP continues to grow globally," said James Walton, president of IMT, Ltd. and head of all IMT and Vislink business operations outside of the Americas.
The Vislink HCAM represents the next generation of HEVC 4K UHD wireless transmitters capable of supporting premium live broadcast events, and continues Vislink's tradition of innovative, high-performance wireless camera systems. HCAM permits 4K UHD wireless video with a 70ms latency via Vislink's world- leading RF modulation.
NEP Group, Inc. is the leading production partner supporting premier content producers across the broadcast and live events industries-and across the globe. We provide the technology and know-how to support the most prestigious sports, entertainment, music and corporate events worldwide. Our technical services include remote production, studio production, audio visual solutions, host broadcast services, premium playout, post production and innovative software-based media management solutions. NEP's 3,000+ employees are driven by a passion for superior service and a focus on technical innovation. Together, they have supported productions in over 85 countries on all seven continents. NEP is headquartered in the United States and has offices in 21 countries. Learn more at www.nepgroup.com.
About xG Technology, Inc.
xG Technology's brands provide wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for use in challenging environments. xG's brand portfolio includes Integrated Microwave Technologies (IMT), Vislink, and xMax.
IMT has pioneered advanced digital microwave systems and is a trusted supplier to broadcast, sports and entertainment, and MAG (Military, Aerospace & Government) markets. Their products are recognized for their high level of performance, reliability, build quality, extended operating ranges and compact form factors. More information about IMT can be found at www.imt-solutions.com. Vislink specializes in the wireless capture, delivery and management of secure, high-quality, live video, and serves broadcast & media and public safety & surveillance markets. More information about Vislink can be found at http://www.vislink.com/.
xMax is a secure, rapid-deploy mobile broadband system that delivers mission-assured wireless connectivity in demanding operating environments. It was designed to serve as an expeditionary and critical communications network for use in unpredictable scenarios and during fluid situations, making it ideal 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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