SARASOTA, Fla., April 27, 2015 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a developer of wireless communications and spectrum sharing technologies, today announced an agreement with DirectView Holdings, Inc. ("DirectView") (OTC: DIRV), to integrate its xMax private mobile broadband technology with DirectView's recently-announced body-worn camera scheduled for commercial launch early in the third quarter of 2015. The planned integration will consolidate the private, secure, high-performance communications capabilities of xMax with the advanced features and functionality of DirectView's body-worn camera.
With a number of recent high-profile law enforcement incidents bringing national attention to the need for the use of body-worn cameras by public safety and police officers, both companies see a rapidly increasing market for real-time video access to personnel in security related operations. The integrated product offering by the two companies will provide a wide array of cutting-edge features, including high-capacity streaming video and imbedded fingerprint access. The initial target markets will include law enforcement, military, government, education and real estate security.
Roger Ralston, CEO and Board Chairman of DirectView, said, "We are excited to partner with xG and its xMax technology because of their unique ability to serve as a private, secure, always-available communications system for our cutting-edge body cameras. The native IP design of xMax allows seamless integration with our hardware, and their support for secure, high-reliability streaming video transmissions allows us to offer a comprehensive, market-leading solution to law enforcement, and eventually, other sectors. We also look forward to leveraging xG's experience and contacts in the public safety and military markets, where the use of body-worn cameras has become mission-essential."
As law enforcement agencies nationwide continue to adopt new technologies to improve overall performance, there are a number of pilot projects taking place across the country evaluating the potential of body-worn cameras to improve officer safety, transparency, and accountability while engaged in policing activities. In addition, President Obama has recently proposed federal spending of $75 million (as part a broader community policing initiative) to help pay for 50,000 body-worn law enforcement cameras. By combining cutting-edge video and sophisticated broadband technologies, the two companies intend to offer a unique turnkey solution to this rapidly growing market.
George Schmitt, CEO and Board Chairman of xG Technology, said, "We are pleased to announce this agreement with DirectView. This is a testament to the ability of our all-IP private mobile broadband technology to be integrated with a variety of applications serving a broad array of markets. The pairing of DirectView's feature-rich camera hardware with our communications capabilities that have been designed from the ground up to serve the demanding needs of the emergency management and first responder community is an exciting opportunity. It represents a compelling, next-generation solution that will be of substantial interest to law enforcement, military and other markets."
About xG Technology, Inc.
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.
About DirectView Holdings, Inc.
DirectView Holdings, Inc., together with its subsidiaries, provides teleconferencing and services to businesses and organizations. The company operates in two divisions, Security (Video Surveillance) and Video Conferencing. The Security division offers technologies in surveillance systems providing onsite and remote video and audio surveillance, digital video recording, and services. It also sells and installs surveillance systems; and sells maintenance agreements. The company sells its products and services in the United States and internationally through direct sales force, referrals, and its Websites. The Video Conferencing division offers teleconferencing products and services that enable clients to conduct remote meetings by linking participants in geographically dispersed locations. It is involved in the sale of conferencing services based upon usage, the sale and installation of video equipment, and the sale of maintenance agreements. This division primarily provides conferencing products and services to numerous organizations ranging from law firms, banks, high tech companies and government organizations. For more information visit our website at www.DirectView.com and connect with us on Twitter, LinkedIn, Facebook, and Google+.
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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