This is the final stage of testing before the launch of the second beta network in Daytona Beach, Florida in March, which will be operated by Far Reach Communications in conjunction with xG. Far Reach plans to offer wireless broadband services in 76 markets across eight states, backed by $100m in funding. Initially it plans VoIP services, with internet access and data services to follow in November. By 2008 it plans to expand the service to IP television.
xG Technology is quoted on the AIM market of the London stock exchange. It raised $120m of convertible preferred equity securities from investors in December in a deal under terms of which they will receive 17% of the company’s shares if its revolutionary wireless technology proves to be a success.
