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SARASOTA — Wireless communications firm xG Technology has brought in 25-year sales veteran John Procacci as a vice president of sales.
Specifically, Procacci will serve as vice president of sales for xG's xMax and Integrated Microwave Technologies business units, a statement says. He will lead the commercial sales team and the IMT team. Procacci will also work with xG's marketing, product development, operations and support staff.
For 12 of his 25-plus years in sales and business development, Procacci focused on engineered products targeting Department of Defense and other federal program requirements, the statement says. He most recently served as business development director for commercial defense electronics company Mercury Systems.
Founded in 2002, xG Technology (symbol: XGTI; recent price: $0.41) has more than 100 patents and pending patent applications. The firm has been making moves with its stock lately, most recently picking up $4.4 million in late July in a public underwritten offering of 7.3 million units. In June, it implemented a 1-for-12 reverse split of its common stock.
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