Wednesday, September 3, 2008

Proxim Sells Harmonix

Milpitas-based Proxim Wireless, a developer of broadband wireless systems, said Wednesday afternoon that it has sold substantially all of the assets of its Harmonix Division to Renaissance Electronics Corp, in a deal worth $5.3M. Proxim had said in early August that it had hired an investment bank to sell the unit, which is part of its Terabeam Corporation subsidiary. As part of the deal, proxim said that its is in an agreement with Renaissance to support radios developed and manufactured by the firm.