Tech firm locks in $3M acquisition

SARASOTA — Wireless communications firm xG Technology Inc. acquired Mt. Olive, N.J.-based Integrated Microwave Technologies for $3 million.

IMT's primary market focus is broadcast with television networks and NFL, MLB and NHL sports teams, in addition to military, aerospace and government. It had $7.2 million in revenues last year, according to a statement.

The acquisition will help Sarasota-based xG focus on event management communications, which it has designated as an area emphasis, according to the statement from the firm. xG unveiled its xMax Transportable Broadband system in September, which allows instant communication during events or rapidly changing operating environments.