New Orders For Strategically Important Sectors - Report on xG Technology

Jul 27, 2015, 09:35 ET from

NEW YORK, July 27, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on xG Technology, Inc. (NASDAQ: XGTI). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL:

Highlights from our XGTI Report include:

  • Strategically Important Order from Telemedisys- On July 1, 2015, xG Technology, Inc. announced that it has received c. $309,000 order from Telemedicine MM Systems-New York (Telemedisys), an integrator of healthcare and other network systems, for xMax mobile broadband wireless equipment and services. This order provides an opportunity for xG to enter the global telemedicine sector, which is expected to double over the next five years, according to a study.
  • Benefits from xMax System Integration - The xMax mobile broadband wireless equipment and services will be integrated into Telmedisys' network infrastructure to deliver telemedicine/telehealth, emergency response services, disaster recovery and other applications at an affordable cost. The integration is expected to facilitate the desired turnkey-design effect. As per the release, in phase 1, initial network will be built out in St. George's, the capital of Grenada, with a Network Operations Center (NOC) that will support regional expansion and growth throughput CARICOM - the community of 15 nations and dependencies located in the Caribbean.
  • Follow-on Order from Itellum - Previously on June 30, 2015, xG Technology had received an order for xMax mobile broadband wireless equipment and services from Itellum, LLC of approximately $58,000. This order, which followed the one previously announced on May 20, 2015, would be used to further expand the footprint of the xMax network that was installed in Escazu, Costa Rica. Additionally, the Company highlighted that Itellum is one of four companies who have entered into a formal agreement to participate in the initial xMax Costa Rica deployment, besides expansion into other Latin American markets thereafter. The other partners are Level 3 Communications, Osmin Vargas Corporacion, and MB Technology Holdings, LLC.

Views of Management - Commenting on the order received from Telemedisys, Tim Moynihan, Vice President of Sales for xG Technology, said, "This order, coming after ones we received in the past month for deployment in Costa Rica, confirms the growing acceptance of xMax as an attractive mobile broadband option for international markets. The telemedicine application is a particularly exciting opportunity for xG, since the main factor in its adoption is cost-efficient, widely-available mobile connectivity. These are the key benefits the xMax system is intended to deliver."

To find out how this influences our rating on xG Technology, Inc. read the full report in its entirety here:

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