xG Technology agrees to acquire Vislink for USD16m

xG Technology, Inc. (Nasdaq: XGTI, XGTIW) has entered into a binding agreement to acquire the assets of the Vislink Communication Systems division from Hungerford, United Kingdom-based Vislink, plc, the company said.

The purchase is expected to close by year-end 2016.

Vislink delivers global solutions comprising hardware and related services to two core markets: broadcast & media and public safety & surveillance. In the broadcast and media market, Vislink provides broadcast communication links for the collection of live news, sport and entertainment events.

In the public safety and surveillance markets, Vislink provides secure video communications and mission-critical solutions for law enforcement, defense and homeland security applications.

Founded in 2002, xG Technology has created a broad portfolio of intellectual property that enables always-available, always-connected and always-secure voice, broadband data and video communications. Based in Sarasota, Florida, xG has over 100 patents and pending patent applications.