Proxim Sells Out

"Beleaguered wireless equipment provider Proxim (Quote, Chart), stung last year by losing a $22.75 million dollar lawsuit to Symbol, announced this weekend that it would 'sell substantially all assets' to Moseley Associates of Santa Barbara, Calif., for $21 million to become a wholly-owned subsidiary. Moseley is planning to 'preserve most of Proxim operations,' according to a statement. This acquisition gives it a portfolio of wireless products running from 200MHz to 38GHz radio spectrum."

[InternetNews]