xG Technology’s IMT Vislink Business Awarded $12.5 Million US Army Contract for Hand-Held Intelligence, Surveillance and Reconnaissance Receiver Devices
SARASOTA, FL—November 20, 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, announced today that its IMT Vislink business has been awarded a $12.5 million contract by the U.S Army with an estimated completion date of Sept. 24, 2020 for the supply of hand-held intelligence, surveillance and reconnaissance receiver devices. This represents the third contract received from the Army since 2013 for this same requirement.
Equipment covered by the contract includes ruggedized, lightweight hand-held receivers designed to display real-time video imagery transmitted by aerial assets or frontline surveillance platforms, as well as related accessories.
George Schmitt, Executive Chairman and CEO of xG Technology, said, “We are honored to have been chosen by the U.S. Army to fulfill this important contract. It is a huge game changer that underscores our proven expertise in designing and delivering best-in-class wireless video communications solutions that enhance tactical insights. We will work closely with the Army to ensure they gain maximum effectiveness of our equipment in conducting their operations. We look forward to commencing product deliveries, and have already manufactured 50 units that are ready to ship as needed to our forces overseas.”
Mr. Schmitt continued, “Beyond just the value of the contract to us, we are proud to have our technology support our fighting men and women overseas and look forward to supporting our troops in any way we can. This is hopefully the first of many contracts we will be successful in obtaining in the future.”
IMT and Vislink have decades-long experience providing secure wireless video communications and mission-critical solutions for law enforcement, defense and homeland security applications around the world. With thousands of digital microwave radio systems deployed, they are the de facto standard in high performance, rapidly deployable systems that meet the most stringent requirements.
About xG Technology, Inc.
xG Technology’s brands provide wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for use in challenging environments. xG’s brand portfolio includes Integrated Microwave Technologies (IMT), Vislink, and xMax.
IMT has pioneered advanced digital microwave systems and is a trusted supplier to broadcast, sports and entertainment, and MAG (Military, Aerospace & Government) markets. Their products are recognized for high levels of performance, reliability, build quality, extended operating ranges and compact form factors. More information about IMT can be found at www.imt-solutions.com. Vislink specializes in the wireless capture, delivery and management of secure, high-quality, live video, and serves broadcast & media and public safety & surveillance markets. More information about Vislink can be found at http://www.vislink.com/.
xMax is a secure, rapid-deploy mobile broadband system that delivers mission-assured wireless connectivity in demanding operating environments. It was designed to serve as an expeditionary and critical communications network for use in unpredictable scenarios and during fluid situations, making it ideal for disaster response, emergency communications, and defense applications. More information about xMax can be found at http://www.xgtechnology.com/system-overview/. In addition to the above business lines, xG has a dedicated Federal Sector Group (xG Federal) focused on providing next-generation spectrum sharing solutions to national defense, scientific research and other federal organizations. Additional information about xG Federal can be found at http://www.xgtechnology.com/technology/xg-federal/.
Based in Sarasota, Florida, xG Technology has over 100 patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market (symbol: XGTI) For more information, please visit www.xgtechnology.com.
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