Proxim purchase to boost Terabeam's wireless play
Terabeam emerged as the high bidder in a court-approved auction for Proxim, which filed for bankruptcy protection earlier this year. The companies said the agreement is expected to supersede an earlier one under which Proxim agreed to sell its assets to telecom equipment marker Moseley Associates for $21 million.
The Terabeam-Proxim deal still requires final approval by the U.S. Bankruptcy Court for the District of Delaware, but is expected to close on or before July 29.
With Proxim in the fold, Terabeam will expand its wireless LAN, point-to-point and point-to-point wireless market presence. It will also continue to push into the emerging WiMAX and wireless mesh sectors.
"We will be able to offer best-of-breed wireless solutions in virtually every arena, from WiFi through wireless Gigabit Ethernet," said Terabeam CEO Robert Fitzgerald.