xG Technology's Vislink Business Receives Order in Excess of $1 Million From Leading European Outside Broadcasting Provider AMP Visual TV
SARASOTA, FL, JANUARY 4, 2018 - 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 Vislink business has received an order valued in excess of $1 million from France-based AMP VISUAL TV ("AMP"), a leading European provider of outside broadcasting (OB) services. Equipment covered under the order includes Vislink HCAM 4K UHD systems, UltraReceivers, L1700's, L2174's and FocalPoint camera control equipment to provide wireless camera transmission.
The hardware will be deployed at many events across the world, including the PyeongChang 2018 Winter Olympics in South Korea, the 2018 World Cup in Russia and the 2018 24 Hours of LeMans automobile racing event. Delivery of the equipment is expected to commence January 5th, 2018.
Vislink and AMP have a long history of working together, dating back to the first iterations of wireless radio cameras. AMP has already invested heavily in Vislink L1700's and L2174 platforms, and this new order brings their investment in Vislink equipment to unprecedented levels.
Rob King, European Sales Director for Vislink, said, "AMP approached us to provide a quick turnaround delivery on additional L1700 kits for early 2018 productions. I'm proud to announce that we signed the deal valued in excess of $1 million for new hardware, including L1700's plus our new 4K capable HCAM and UltraReceivers with a considerable amount of our FocalPoint camera control technology. We've worked hard over the past few years to improve our camera control technology, and this decision by AMP to invest in it demonstrates our success."
Stephane Alessandri, Head of RF Department & International Operations at AMP, stated, "Our recent further investment into Vislink hardware builds upon a long relationship between the two companies. This new hardware will be used in the future to underpin our global productions in delivering the very best in wireless video, now including low-latency 4K UHD. We have also made a major investment into Vislink's FocalPoint camera control system, which we look forward to deploying in 2018."
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.
About AMP Visual TV
As a specialist in TV coverage, AMP VISUAL TV provides complete, end-to-end services for live and on-location television productions. It has at its disposal one of the most extensive European fleets of OB (outside broadcasting) vans for filming on location, and over 40 studios in the Paris region, including eight with fixed video systems. AMP VISUAL TV is recognized as a pioneer in new technological applications such as HD OB vans, 3D film, 4K, digital RF, streaming, web server, Media Centre and VR360. It produces 18,000 hours of programs per year, notably for game shows, variety shows, entertainment shows and news and lifestyle shows, and is particularly visible in live performance, special events and sports, especially motor sports, with the latter being its specialty on an international scale. The company has a team of 500 permanent employees, with offices in Metz, Lyon, Cannes, Toulouse, Nantes, Paris and Sables d'Olonne in France, as well as in Casablanca (Morocco), Abidjan (Ivory Coast) and Wavre (Belgium). For more information, visit www.ampvisualtv.tv/en/.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to xG Technology, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
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