Monday, January 14, 2013
xG receives $6,000,000 in new purchase commitments
USA: xG Technology Inc., the developer of a broad portfolio of wireless communications technologies, including cognitive radio networks, has received new purchase commitments, for $6,000,000 in total, from the following wireless solutions providers:
PMC Associates (based in Hazlet, New Jersey), Communications Marketing Southeast (based in Dallas, Georgia) and Mobile-One Communications (based in Venice, Florida) (together the "Providers"). These established Providers add to the growing ecosystem of industry participants that xG is assembling to bring xMax solutions to multiple vertical markets.
The orders, in aggregate, total a minimum of $6,000,000 for xMax cognitive radio networking equipment, including xMax wireless access points, xMSC mobile switching centers and xMod personal hotspots (capable of supporting existing smartphones, tablets and laptops). Fulfillment of these orders will enable the Providers to offer xMax wireless voice and advanced broadband equipment and services to their customers.
These purchase orders bring the total announced backlog of orders for xMax equipment and services to over $14.5 million and highlight the growing appeal of xG's technology in different business sectors. While the previous orders were received from firms focused on the rural telecom and homeland security markets, the Providers placing the new purchase commitments provide wireless communications to a variety of sectors.
PMC Associates brings together over 150 years of combined industry experience to specialize in two-way radio communications for federal, state and local public safety agencies, transportation, schools, utilities, as well as business and industry.
"We have seen a growing market need for highly reliable mobile broadband networking that can work in license-free spectrum bands. xMax finally enables us to meet this pent-up demand and deliver a real high-performance, high-value solution to our customers," said Philip Casciano, president of PMC Associates.
Communications Marketing Southeast is a multiple line manufacturer's representative that was founded in 1977 and specializes in wireless communications. Jason Bentley, GM of Communications Marketing Southeast said: "Our firm is focused on partnering with manufacturers that deliver cutting-edge wireless solutions. We are very excited to be a part of the xG team and look forward to expanding the markets for their innovative technology."
Mobile-One Communications specializes in the design and implementation of integrated communications and security systems. They were founded in 1988 and serve clientele in public safety, education, utilities, government, gaming & casinos, hospitality, transportation, logistics, manufacturing and healthcare.
Mike Loncar, president of Mobile-One, said: "Mobile-One is committed to providing the best-in-class solutions to our diverse customer base. We believe xG's xMax cognitive radio system offers a new level of performance, flexibility and value in addressing client needs."
Rich Schubiger, VP of Sales for xG, said: "We are very pleased to establish relationships with these respected and innovative wireless solutions providers. xG is committed to building strong dealer, integrator and manufacturer's representative sales channels that are both broad and deep in scope. Agreements such as these announced today demonstrate our expanding market traction and ability to penetrate a growing number of vertical sectors."
Under the terms of the orders, xG will be paid upon the delivery of FCC certified xMax equipment to the Providers, which is expected to commence in the second quarter of 2013.