XG TECHNOLOGY ANNOUNCES NEW MANAGEMENT APPOINTMENTS IN SUPPORT OF REALIGNED IMT AND VISLINK BUSINESSES
James Walton, John Payne Will Play Key Roles in Pursuing Worldwide Growth Opportunities for Mission-Critical Video Solutions
Sarasota, Florida—February 21, 2017—xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, today announced that James Walton has been appointed president of IMT Ltd., the new legal entity created by the acquisition of Vislink by xG. Mr. Walton, who previously served as the Chief Executive Officer of Vislink, will assume responsibility for the management of Vislink offices located in the United Kingdom, and all IMT and Vislink business operations outside of the Americas. This includes the sale of all current IMT and Vislink products in those areas. Mr. Walton has also been appointed a corporate officer of xG Technology.
John Payne IV, who previously served as president of the IMT division of xG Technology, will now serve as president of IMT USA, with responsibility for all IMT and Vislink business operations in the Americas, including the sale of all current IMT and Vislink products in those areas.
John Coleman remains president of xG Technology’s Federal business unit. Messrs. Walton, Payne and Coleman will report directly to George Schmitt, and their operations will also be under the purview of Roger Branton, CFO of xG Technology.
George Schmitt, Executive Chairman and CEO of xG Technology, said, “We are pleased that James Walton will be spearheading our efforts to promote our best-in-class video capture, transmit and management solutions to broadcast, sports and entertainment, and mission-critical public safety and defense sectors around the world. At the same time, John Payne and his team at IMT will now have at their disposal expanded product capabilities to deliver innovative solutions to customers in North and South America.”
James Walton said, “I am grateful for the opportunity to help drive the next phase of growth for Vislink and IMT products in global markets. The addition of the IMT range of products to Vislink’s offerings will enable the delivery of comprehensive, highly targeted solutions to our existing and prospective clientele that concretely address their business and mission challenges.”