SARASOTA, Fla., March 23, 2015 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a developer of patented wireless communications and spectrum sharing technologies, announced that ABI Research ("ABI") has chosen xG as one of the most innovative companies operating in today's global markets. In its new white paper, ABI recognized xG as one of 118 Hot Tech Innovators—small, nimble, innovative start-ups that can completely change the "marketecture" in a matter of a few short years.
ABI selected xG as "Important to Watch" because of the ability of the xMax solution to leverage commercial off-the-shelf smartphones, laptops, and tablets for savings in infrastructure, maintenance, and operational costs. ABI predicted that the likely outcome and progress to be expected this year from xG will be deployments announced for either critical infrastructure, emergency, or public safety.
"If you are working for a company sitting comfortably in the bird seat of any tech market, these are the companies you need to have on your radar," said Stuart Carlaw, Chief Research Officer, ABI Research. "The companies featured in this whitepaper represent not only the most forceful potential disruptors for tech markets but also the hottest acquisition targets around. They all share a common DNA: they are young, they are aggressive, they are nimble, their technology solution fills a needs-gap, and they are on the cusp of imminent breakout."
George Schmitt, CEO and Executive Chairman of the Board of xG Technology, said, "We are honored to be acknowledged as a top technology innovator by ABI Research, one of the leading technology market intelligence forms in the world. This recognition underscores that our strategy of providing secure, resilient, interoperable, rapidly-deployable broadband wireless solutions is one that is not only built on an impressive technological foundation, but also has wide real-world applicability in markets including rural broadband, defense, emergency response/public safety, utilities and critical infrastructure."
The full ABI Research report, which can be downloaded at this link, features a summary of xG, why it is important to watch and their prediction for xG in 2015.
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:
Investor and Analyst Relations
Jody Burfening/Carolyn Capaccio
SOURCE xG Technology, Inc.