- Townes Tele-Communications is buying xG's (XGTI) xMax access points and fixed/mobile hotspot devices, as well as hiring xG to provide "network management, engineering and ongoing maintenance services in support of the xMax equipment."
- The hotspot hardware includes xG's dual-band CN3200 modem (approved by the FCC last fall), which was built with rural broadband deployments in mind.
- Half of the order ($500K) will be immediately fulfilled, and the other half "on a schedule to be determined by Townes." Notably, Townes is run by Larry Townes, whose recent resignation from xG's board drew attention.
- Shares have jumped to $0.53 premarket.