xG Technology Wins Broadband Impact Product of the Year Award at BroadbandVision
CN3200 Dual Band Routing Modem Recognized for Providing New Revenue Opportunities to Rural Broadband Providers
SARASOTA, Fla., Oct. 6, 2014 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a developer of wireless communications and spectrum sharing technologies, announced today that it has won Broadband Impact Product of the Year at BroadbandVision, held October 1-3, 2014, at Caesars Palace in Las Vegas, Nevada. The BroadbandVision Broadband Impact Product of the Year was awarded to xG Technology's CN3200 Dual Band Routing Modem for enabling the cost-effective delivery of innovative, residential-focused wireless broadband for voice, video, and data.
The CN3200 is a compact subscriber device that provides both fixed location high data rates and reliable high-speed mobility in the same system at a fraction of the cost of other mobile networking technologies. It operates in both the 900 MHz and 2.4 GHz spectrum bands and delivers throughput of at least 20 Mbps at 5 miles from a 100 foot tower in an average rural deployment. Leveraging dual frequencies, the CN3200 seamlessly switches between radio links based on optimum throughput if either becomes inoperative, without interruption of service.
During the BroadbandVision Expo, representatives from xG Technology conducted live demonstrations of its dual band technology, showing the advantages of a single solution combining high-speed fixed broadband capability with mobility.
"Consumer broadband access is a core business line for today's service provider and products like the CN3200 from xG Technology are enabling them to maximize their business opportunities," said Bernie Arnason, chair of BroadbandVision. "Our Broadband Impact Product of the Year winner represents the type of innovative product that gives service providers the tools necessary to enable a better consumer broadband experience."
John Coleman, CEO of xG Technology, said, "We are absolutely delighted to receive this award and appreciate the recognition of our efforts by BroadbandVision." According to Coleman, the CN3200 was engineered to meet the unique service delivery needs of rural telephone companies. "The CN3200, when combined with the rest of our xMax wireless broadband system, provides a very cost-effective way for rural telcos to deliver high quality voice, high speed data, and streaming video to their rural and remote customers," he said. "It also allows these providers to create entirely new sources of unregulated revenue, for example, providing voice and data services to local emergency response teams, college campuses, and Smart City initiatives."
About BroadbandVision:
BroadbandVision is North America's leading Fall tradeshow focused on building mindshare, introducing new ideas, and facilitating business relationships across the entire broadband ecosystem. Produced by NTCA–The Rural Broadband Association, ITTA and Telecompetitor, BroadbandVision is assembling a broad cross-section of telco, cable, utility/municipal, and wireless Internet service providers to introduce, discuss, and demonstrate best practices for broadband network monetization success.
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 robust mobile broadband communications for private, consumer and government networks. 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 networks deliver voice, video and data services to fixed and mobile users. The xMax cognitive radio system incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment. 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. xG is a publicly traded company listed on the NASDAQ Capital Market where xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. 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:
Media Relations
Daniel Carpini
xG Technology
[email protected]
(941) 953-9035
Investor and Analyst Relations
James Woodyatt
xG Technology
[email protected]
(954) 572-0395
Jody Burfening/Carolyn Capaccio
LHA
[email protected]
(212) 838-3777
SOURCE xG Technology, Inc.
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