Company Update (NASDAQ:XGTI): Here’s Why xG Technology Inc Shares Jumped 90% Today
With a market cap below $5 million, xG Technology Inc (NASDAQ:XGTI) investors cheer the news that the wireless communications company, together with partner Southwest Research Institute, has received a $3 million award issued by the Defense Information Systems Agency for Prototype Spectrum Sharing Systems for the 2025-2110 MHz Band.
xG will perform a significant portion of the project, and the award represents a significant milestone in the application of xG’s highly unique core technology to Government efforts to permit spectrum sharing between certain government and commercial applications. Government initiatives in spectrum sharing have been identified by xG as a key strategic focus.
John Coleman, President of xG’s Federal Business Unit, said, “xG’s unique knowledge and expertise in the arenas of spectrum sharing and interference mitigation, together with the Electronic News Gathering (ENG) market leadership of our business unit IMT, make us exceptionally well-positioned to deliver innovation and value in this effort as part of the Southwest Research Institute team. xG believes it can make important contributions to more efficient use of America’s valuable spectrum through spectrum sharing technologies.”
In January 2015, the U.S. government concluded an auction of the 1755-1780 MHz Federal use radio frequency spectrum to Advanced Wireless Services licensees. As part of the auction, some DOD systems are relocating operations into the 2025-2110 MHz region of the spectrum, where they will share that spectrum with ENG operations. The overall objective of this Initiative is to develop a prototype architecture and associated set of concept of operations (CONOPS) and Use Case (UC) materials for a dynamic spectrum sharing system for DOD operations transitioning into the 2025-2110 MHz band and incumbent ENG services. This prototype architecture and documentation will be used to accelerate development of the production sharing system under the DISA transition plan. It is expected that radios operating in this band in the future will adopt the innovative technologies and systems developed under the transition plan to optimize spectrum sharing and co-use. (Original Source)
xG Technology, Inc. engages in the development of patented wireless communications and spectrum sharing technologies. It operates through the following segments: Broadcast, Sports and Entertainment, and Government/Surveillance. The Broadcast segment includes a line of margin receiver products including DR3, crx6, and CIRAS. The Sport and Entertainment segment offers microLite, available in both licensed and unlicensed frequency bands. The Government/Surveillance segment sells IMT, MiniMobile Commander and Mobile Commander.