Proxim Wireless Corporation has retained Heatherfield Group Inc. to explore a variety of strategic alternatives for the Harmonix division of its Terabeam (News - Alert) Corporation subsidiary. It has also received indications of interest from several parties.

 

Proxim has selected a favored bidder and is in the due diligence and negotiation stage with that bidder. According to Proxim, a sale of the Harmonix division could be accomplished by Sept. 26. Proxim provides end-to-end broadband wireless systems that deliver the quadruple play of voice, data, video and mobility to all organizations.

 

Harmonix division produces millimeter wave systems, sub-systems and components for military and non-military governmental and other customers and Gigalink 60 GHz and 70-80 GHz radios.  According to Proxim, the components business of the Harmonix Division is not core to Proxim’s primary business. The company expects that any strategic transaction that involves the Harmonix Division would also include an ongoing relationship with Proxim. This is to ensure continues supply and support of the Gigalink radios.

 

The alternatives being considered have included a number of possibilities such as the acquisition of the Harmonix Division, strategic relationships with the Harmonix Division, and sale of some or all the assets of the Harmonix Division. However, there is no assurance that any transaction or corporate action will result from this exploration of alternatives. Also, there is no assurance concerning the type, form, structure, nature, results, timing or terms and conditions of any such potential action. There is also no surety about whether a transaction with the current favored bidder will ultimately be completed or the terms or timing of any such transaction.

 

Proxim Wireless (News - Alert) provides core-to-client solutions for broadband wireless networks. Its systems enable a variety of wireless applications including security and surveillance systems, mobile workforce automation and machine-to-machine communications. The company has shipped more than 1.5 million wireless devices to about 200,000 customers all over the world. Proxim also offers technical training courses geared towards teaching a user how to maximize the benefits of its products. These classes are taught by experienced Proxim systems engineers and authorized trainers and have a technical focus.