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Proxim Wireless Corporation, a
leading provider of end-to-end
broadband wireless systems that
deliver the quadruple play,
today announced that, effective
August 29, 2008, it has sold
substantially all the assets of
the Harmonix Division of its
Terabeam Corporation subsidiary
to Renaissance Electronics
Corporation.
As part of the transaction,
Proxim and Renaissance entered
into an agreement for the
continued supply and support of
the GigaLink(R) radios developed
and manufactured by Harmonix.
This way Proxim can ensure an
uninterrupted supply of these
products to its customers.
"This transaction truly was a
win-win for Proxim and
Renaissance," stated Pankaj
Manglik, Proxim's Chief
Executive Officer. "The
components business of the
Harmonix Division was non-core
to Proxim's business, so this
gives Renaissance the ability to
capitalize on the technology
assets of that division while
providing Proxim a continued
source of radios and operating
cash to focus on our end-to-end
broadband wireless product
portfolio."
"This acquisition brings
Renaissance closer to meeting
its vision of being the world's
preferred supplier of all
frequency products," said
Thampy (Tom) Kurian,
Renaissance's President and CEO.
"This will allow Renaissance to
cover most of the components,
integrated assemblies, and other
products in frequencies ranging
from radio to microwave to
millimeter."
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