Body cameras company DIRV out with positive news, was over a dollar this time last year, today just below a penny and moving up today 30% on the news.
DirectView and xG Technology's Integration Agreement Will Provide a Next-Generation Hardware and Wireless Communications Body Camera Solution to Law Enforcement and Other Security Markets
PR Newswire DirectView Holdings, Inc.
3 hours ago
????
NEW YORK, Apr. 30, 2015 /PRNewswire/ --DirectView Holdings, Inc. (OTC:DIRV) ("DirectView" or the "Company"), a company focused on ownership and management of leading video and security technology companies, announced its agreement with xG Technology, Inc. ("xG") (Nasdaq: XGTI, XGTIW), a developer of wireless communications and spectrum sharing technologies, to integrate DirectView's body-worn camera with xG's xMax private mobile broadband technology.
The proprietary integrated solution (code named the "DVXG-1000") is scheduled to be launched in the third quarter of 2015. The DVXG-1000 will consolidate the advanced features and functionality of DirectView's body-worn camera with the private, secure, high-performance communications capabilities of xG's xMax. Both companies intend to initially focus joint marketing efforts toward the law enforcement, military, government, education and real estate security markets. The DVXG-1000 will have a number of state of the art features including high capacity streaming video, Bluetooth®, GPS, push to talk, WIFI/4G LTE, and imbedded biometric access.
With a number of recent high-profile law enforcement incidents bringing national attention to the need for the use of body-worn cameras by public safety and police officers, both companies see a rapidly increasing market for real-time video access to personnel in security related operations. The use of body worn cameras has also become a high profile topic of political debate. President Obama has recently proposed federal spending of $75 million (as part a broader community policing initiative) to help pay for 50,000 body-worn law enforcement cameras. Additionally, on April 29th, Presidential hopeful Hillary Clinton advocated that all police departments in the country have body cameras to record interactions between officers on patrol and suspects.
Roger Ralston, CEO and Board Chairman of DirectView, said, "We are excited to partner with xG and its xMax technology as we work towards the launch of this next generation law enforcement solution. xMax's native IP design will enable us to seamlessly integrate our cutting edge body camera to offer a secure, "always on" solution to support high-reliability streaming video transmissions. Together, we will offer a comprehensive, market-leading solution to law enforcement, and eventually, other sectors that require mission essential security applications."
George Schmitt, CEO and Board Chairman of xG Technology, said, "We are pleased to enter into this agreement with DirectView. The ability of our technology to deliver secure and resilient communications in fluid and unpredictable situations is an excellent complement to their state-of-the-art body camera hardware. We expect that the market for such devices will have outstanding potential, and we look forward to working closely with DirectView to bring a feature-rich, tightly integrated solution to law enforcement markets and beyond."
About xG Technology, Inc.
xG Technology has created a broad portfolio of intellectual property that makes wireless networks more intelligent, accessible, affordable and reliable. The company has created xMax, a patented all-IP cognitive radio technology that enables robust mobile broadband communications for private, consumer and government networks. xMax can solve the crisis facing the wireless industry caused by data-hungry devices and applications that are straining network capacity. It eliminates the need to acquire scarce and expensive licensed spectrum, thus lowering the total cost of ownership for wireless broadband access. xG's goal is to help wireless broadband networks deliver voice, video and data services to fixed and mobile users. The xMax cognitive radio system incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment. xG offers solutions for numerous industries worldwide, including urban and rural wireless broadband, utilities, defense, emergency response and public safety.
Based in Sarasota, Florida, xG has 60 U.S. and over 130 international patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market where xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. For more information, please visit www.xgtechnology.com.
About DirectView Holdings, Inc.
DirectView Holdings, Inc., together with its subsidiaries, provides teleconferencing and services to businesses and organizations. The company operates in two divisions, Security (Video Surveillance) and Video Conferencing. The Security division offers technologies in surveillance systems providing onsite and remote video and audio surveillance, digital video recording, and services. It also sells and installs surveillance systems; and sells maintenance agreements. The company sells its products and services in the United States and internationally through direct sales force, referrals, and its Websites. The Video Conferencing division offers teleconferencing products and services that enable clients to conduct remote meetings by linking participants in geographically dispersed locations. It is involved in the sale of conferencing services based upon usage, the sale and installation of video equipment, and the sale of maintenance agreements. This division primarily provides conferencing products and services to numerous organizations ranging from law firms, banks, high tech companies and government organizations. For more information visit our website at www.DirectView.com and connect with us on Twitter, LinkedIn, Facebook, and Google+.
Cautionary Statement Regarding Forward Looking Statements
Forward Looking Statements: This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in our filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
