Mobile tech firm awarded key patent

SARASOTA — Wireless communication firm xG Technology has been awarded a new patent for its spectrum sharing technology systems.

The patent news boosted shares of the company's stock to $1.95 in unusually heavy trading volume of more than 9.4 million shares. Shares were up 50% over the close on Feb. 28, when the price was $1.30. The firm, which raised $10 million in a limited public offering in November, is traded on the Nasdaq under XGTI.

The cognitive radio patent enables high-performance spectrum sharing, according to an xG release. Cognitive radio technology with spectrum sharing is a potential solution to the rising demand for high bandwidth wireless services, xG executives say. The xG version covered in this patent allows base stations to coordinate their measurements of spectrum usage and jointly determine optimum channels to use for communications. The firm now has been issued 49 patents in the U.S. and 64 in international markets.

“The announcement of this patent award underscores xG's position as the leading innovator in the field of cognitive radio development,” xG CEO John Coleman says in the release. “It continues our aggressive efforts to codify our intellectual property portfolio and bring game changing spectrum sharing solutions to the market.”