15/06/2005 08:08:40

Proxim, a producer of Wi-Fi and broadband wireless equipment, announced on Saturday that it has sold substantially all of its assets to Moseley Associates. Proxim has endured a steep decline in revenue and increases in deficits over the last four years, and the sale will be implemented through Proxim's filing of Chapter 11 bankruptcy.

Moseley designs digital transmission systems for enterprises including television companies and telecommunication companies. The US$21 million acquisition of Proxim will allow Moseley's line of wireless products to cover the spectrum from 200M hertz to 38G hertz. Most of Proxim's operations would be preserved through the acquisition, according to their press release.

ComputerWorld