You may recall xG technology is a company based in Florida – they made some incredible claims regarding their wireless technology regarding range and capacity. Over time they scaled back their claims and I went to their office to verify they had a working network.
The buzz on the Internet from detractors was that their technology wasn’t scalable. Many of these detractors were quite hostile actually and attacked me directly – for basically recording in video and words what I saw with my own eyes (here is a link to many of the company’s videos – many made by myself and TMC).
But getting back to the company they have a few news items worth sharing.
First off is the news they signed a teaming agreement with Force 3 allowing their technology to be bid as the cellular wireless component to the US Army. The results of the RFP will be decided in the summer of 2012. The xMax cognitive radio solution was deployed earlier this year in six-month field trials conducted by the US Army, as well as by technicians in the Army Research laboratory.
Moreover the wireless network I actually tested a few years back serving Broward and Miami-Dade counties has been leased for exclusive use for the sum of $15 million. Care21 is signing on behalf of an international investor group led by Markus Losada, the founder of Care21, and lasts for a term of five years.
The first payment of $440,000 has already been received by the company.
A few years back I was literally excoriated for even considering the idea that company had viable technology. It seems based on recent progress the company has more supporters than detractors. In the end of course it is all about dollar signs… We will see what happens with xG Technology – so far the news hasn’t moved the stock which is trading around 50 cents per share.