February 5, 2017: Sell xG Technology for a +58% win. Congratulations if you were able to make money on the trade. The company has filed to offer common stock and warrants for an indeterminate amount through Aegis Capital. When ever you see that type of dilutive filing, it’s best to sell as quickly as possible and book those profits.
December 29, 2016: xG Technology to close Vislink acquisition on January 9, 2017. xG Technology announced today that the closing on the previously-announced acquisition of Vislink Communication Systems (“Vislink”) has been scheduled for January 9, 2017. This will coincide with Vislink’s general meeting and shareholder vote on the acquisition agreement that will take place the same day.
xG Technology originally announced the Vislink acquisition on Oct. 20, 2016, and announced the signing of the final definitive business purchase agreement on Dec. 19, 2016.
December 26, 2016: Quarterly revenue growth for xG Technology has exploded +850% year over year.
December 19, 2016: xG Technology announced that it had signed the final definitive business purchase agreement to acquire Vislink Communication Systems from Vislink, Plc. All substantive terms of the acquisition, which was originally announced on Oct. 20, 2016, have been agreed upon by the respective parties and due diligence has been completed. The agreement is subject to Vislink shareholder approval, and funding of the acquisition is expected to be finalized after that.
The CEO said, “The Vislink acquisition represents a transformational step for xG Technology, and we believe it will help xG realize overall revenues of at least $60 million in 2017. There are impressive sales, technology, and manufacturing synergies between Vislink and IMT which will be realized as we integrate the operations in 2017.”
December 8, 2016: xG Technology announced it had received a $450,000 order from a state investigation bureau located in the South Atlantic region (“the Bureau”) for the IMT Airborne Video Downlink System (“AVDS”). The system consists of an integrated suite of downlink transmitters, receivers, and antennas that will be used to capture and transmit real-time, reliable high-definition video from fixed-wing aircraft for display at command centers, mobile receivers and on video management systems.
The Bureau recently acquired a new fixed-wing aircraft and determined that the IMT AVDS would be perfect to enhance its capabilities for carrying out law enforcement investigations and surveillance missions. The AVDS is known for its ability to deliver clear and stable video from extended ranges and aerial platforms.
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