xG Technology, Inc. (Nasdaq: XGTI, XGTIW) has completed its acquisition of assets of Integrated Microwave Technologies, LLC (“IMT”) originally announced on Jan. 19, 2016.
The acquisition was completed using debt financing from the seller and will require payoff over the next eighteen months.
The acquisition of the IMT assets is expected to deliver significant benefits to xG in a number of areas. By aligning its operations and technology platforms with those of IMT, xG will be able to expand more deeply into markets it is currently active in, while opening growth possibilities in new sectors. xG gains immediate access to the IMT product line, which opens new cross-selling opportunities to xG´s existing customer base, and enriches its competitive offerings.
Likewise, IMT can now fill the demonstrated need among its own customers for the kind of secure, rapidly-deployable mobile broadband solution that xMax is uniquely suited to fill.
Finally, IMT´s manufacturing expertise is expected to drive additional operational, production and other cost efficiencies at xG. This and other aspects of the transaction will serve to yield compelling financial benefits to xG and prepare it realize even more growth.
Founded in 2002, xG Technology has created a broad portfolio of intellectual property that makes wireless networks more intelligent, accessible, affordable and reliable. The company is the developer of xMax, a patented all-IP cognitive radio network system that enables secure, 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.
The xMax system delivers always-available voice, video and data services to both fixed and mobile users, and is interoperable with existing cellular and dedicated networks without being dependent on them. xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR).
Based in Sarasota, Florida, xG has over 100 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.
Integrated Microwave Technologies (IMT) is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the Broadcast, Sports & Entertainment and MAG (Military, Aerospace & Government) markets. The company comprises the leading microwave brands Nucomm, RF Central and IMT, offering customers worldwide complete video solutions. Nucomm is a premium brand of digital broadcast microwave video systems.