Cornet Technology, Inc. Enters into Agreement to Resell xMax Mobile Broadband Equipment
SARASOTA, Fla., Jan. 15, 2013 /PRNewswire via COMTEX/ --
xG® Technology, Inc. ("xG" or the "Company") (AIM: XGTU.L, XGT.L), the developer of a portfolio of wireless communications technologies, including cognitive radio networks, is pleased to announce that Cornet Technology, Inc. ("CTI" or "Cornet Technology") has entered into an agreement with the Company to resell $5,000,000 worth of xMax mobile broadband equipment over the three year term of the agreement, subject to placing purchase orders.
Under the terms of the agreement, CTI is granted non-exclusive rights to sell xG's products to United States Government and Department of Defense (DoD) customers. CTI has also been granted exclusive rights to resell xMax equipment when sold as part of an end-to-end two-way video streaming solution for vehicles that is currently under development.
Cornet Technology has 23 years of engineering experience in delivering data, video, and voice products and solutions to a wide range of commercial and government clients. The firm designs, engineers and manufactures advanced Command, Control, Communications, Computer, Intelligence, Surveillance, and Reconnaissance (C4ISR) solutions targeted at U.S. and international defense and aerospace agencies and prime contractors to the US government.
"Robust and reliable mobile broadband communications form the backbone of many of the advanced applications that our customers demand," said Nat Kumar, CEO of Cornet Technology. "xG has the products and technology that meet the high level performance and flexibility we need to deliver our next-generation offerings. We look forward to working closely with xG to integrate xMax technology into our product set, particularly our streaming video solutions."
CTI's customer base of Government, Department of Defense, Department of Homeland Security and other customers, directly complements other xG resellers whose market focus includes rural telcos, public safety, education, utilities, local government, gaming and casinos, hospitality, transportation and logistics, manufacturing and healthcare.
"Cornet Technology has an exemplary reputation for creating tailored solutions that combine cutting edge with proven technologies. We are proud to be working with them to deliver security and mobile communications infrastructure to some of our nation's largest and most vigilant agencies," said John Coleman, Chief Executive Officer of xG Technology. "xMax goes beyond traditional radio technologies by using its built-in cognitive capabilities to offer a robust data and voice solution for real-time applications. We look forward to delivering solutions that meet the exacting requirements of the markets and customers that Cornet Technology serves."
ABOUT xG TECHNOLOGY
xG Technology is a leading developer of innovative and disruptive communications technologies for wireless networks. Its patented intellectual property portfolio covers a broad range of applications, including smart wireless networks that can help address the global wireless spectrum crisis through advanced technology. xG is commercializing some of these technologies to create xMax, the world's first carrier-class cognitive (i.e. smart) radio network. The Company's technology provides ways to significantly increase the efficient use of spectrum, allowing network operators to offload existing voice or data traffic, reduce dropped calls, and enhance network capacity for their customers. xMax's standards-based IP architecture minimizes network deployment, management and operational costs while simplifying the delivery of high quality fixed and mobile voice and data services. xMax can enhance and extend any wireless network, and provides an economical last mile solution for hard to reach customers and devices. Using field-proven technology, xMax enables the delivery of mobile broadband services to consumers, agencies and enterprises worldwide in both licensed and free unlicensed bands. Based in the USA, xG has over 60 US and more than 140 international patents and pending patent applications. xG's intellectual property is available for licensing in domestic and international markets. For more information, please visit www.xgtechnology.com.
David Worthington, Fusion PR212.651.4200 email@example.com
Cornet Technology, Inc. is a leading secure/non-secure communications equipment supplier to the defense industry in the United States and overseas. Its solutions deliver voice, video, and data communications and video surveillance and distribution solutions to some of the world's most exacting users. Headquartered in Northern Virginia, CTI has wholly owned subsidiaries in Germany, Japan, and India. All CTI products are manufactured in the U.S. at its 9001:2008 registered facility in Springfield, Virginia. Information on CTI's products and services is available at the CTI website www.cornet.com.
SOURCE xG Technology, Inc.
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