xG Technology Announces $16 Million Acquisition
Sarasota-based xG Technology, Inc., which provides wireless communications, has entered into a binding agreement to acquire the assets of the Vislink Communication Systems ("Vislink") division from Hungerford, United Kingdom-based Vislink, Plc. The purchase is expected to close by year-end 2016. Vislink Communication Systems, which has a present year sales run rate that is expected to be between $45M-$50M, specializes in the wireless capture, delivery and management of secure, high-quality, live video from the field to the point of usage, or "from scene to screen." Vislink serves two core markets: broadcast & media and public safety & surveillance. Based in Sarasota, Florida, xG has over 100 patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market.