Wednesday, August 13, 2008

Proxim Looks To Sell Harmonix

Milpitas-based Proxim Wireless, which develops broadband wireless systems, said Wednesday that it has hired an investment banker to explore "possible strategic alternatives" for the frim's Harmonix Division, part of its Terabeam Corporation subsidiary. Harmonix is based in Haverhill, Mass. Proxim Wireless said that it has retained Healtherfield Group, inc. as its banker; the firm said it has a number of indications of interest from interested parties, and is in due diligence and negotiation with a bidder for the unit. Harmonix makes millimeter wave systems, sub-systems, and components for military and other government customers. The firm said the alternatives may include acquisition of Harmonix, an investment, sale of some or all of the assets, or a strategic relationship.