Wireless technology firm answers $5 million call

SARASOTA — The parent company of xG Technology plans to invest at least an additional $5 million into the business.

The parent company, Sarasota-based MB Technology Holdings LLC, made the investment to strengthen xG's balance sheet and demonstrate its long-term support to the business, according to a release. xG Technology markets and sells a patented system that provides inexpensive Internet-based cell phone calls.

The holding company, according to the release, has committed $5 million to anchor a bridge loan of up to $10 million. The loan will be repaid out of future equity financings.