|By PR Newswire||
|August 28, 2013 10:59 AM EDT||
SARASOTA, Fla., Aug. 28, 2013 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW; AIM: XGTU.L, XGT.L), the developer of a portfolio of wireless communications technologies, including spectrum sharing solutions, today announced that it has been granted eight new patents. The patents cover a wide range of innovations that will enable it to offer differentiated mobile broadband solutions to a wide range of customers and applications. The inventions covered by these patents simplify and reduce the cost related to the deployment and operation of fixed and mobile broadband networks. These patents further strengthen xG's capability to deliver solutions that can operate in licensed, unlicensed and shared spectrum bands.
As smart device usage, media-rich content and location-aware apps push global wireless data traffic to unsustainable levels, spectrum sharing is seen as a solution to the capacity problem faced by mobile operators, public safety, Homeland Security and Department of Defense agencies.
"With government, industry and public advocacy groups recognizing that spectrum sharing represents the most efficient way of addressing the nation's spectrum needs, it is imperative that the technology innovations in this field keep pace," said Tandhoni Rao, Ph.D., CTO and Managing Partner of Salbec, LLC and a previous technical advisor to xG. "As evidenced by this patent announcement, xG is continuing to invest in its cognitive radio technology foundation in ways that will enable it to offer market-leading solutions that solve many of the issues faced by the wireless industry."
These newly granted patents underscore the Company's increasingly valuable Intellectual Property (IP) portfolio as well as its growing leadership in the rapidly expanding cognitive radio and shared spectrum networking field. The New York Times has named xG as a company "developing technology that could change the whole spectrum game by using radio frequencies more efficiently."
"As the demand for spectrum sharing solutions continues gaining traction in the marketplace, xG's expanding IP portfolio will enable the Company to deliver powerful, patent-protected technologies to meet this need," said Joe Bobier, CTO of xG. "The inventions covered in these patents enable xG to offer cost-effective and unique solutions that have the potential to fundamentally change how wireless networks operate in increasingly crowded frequencies and channels."
As of the date of this release, xG's United States patent portfolio includes 47 patents granted, with an additional 15 patent applications pending. The Company's foreign patent portfolio totals 141 patent matters (issued and pending).
About xG Technology
xG Technology, Inc. develops a broad portfolio of intellectual property to make wireless networks more intelligent, accessible, affordable and reliable. The company has created xMax, a patented all-IP cognitive radio technology that enables spectrum sharing. 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 network operators make more efficient use of their spectrum allocations and to create new opportunities for innovation in unlicensed spectrum. The xMax cognitive radio system incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation and self-organizing networks. 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 over 60 U.S. and over 140 international patents and pending patent applications, and its technology is available for licensing in both domestic and foreign markets. xG is a publicly traded company listed on the NASDAQ Capital Market and on the London Stock Exchange's Alternative Investment Market (AIM). On the NASDAQ, xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. On the AIM, xG's unrestricted shares trade under the stock symbol XGTU.L and xG's restricted 'Reg S' shares trade under the stock symbol XGT.L.
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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SOURCE xG Technology, Inc.