Proxim will sell assets to Moseley Associates: I have long had a soft spot for Proxim, a firm that has developed and acquired some fundamental and interesting technology for consumers and enterprises over the year. They were an early advocate of 802.11a and 5 GHz, of point to multipoint broadband wireless, of HomeRF (yes, the business didn't fly, but it had great ideas behind it), and was an early entrant into enterprise-wide Wi-Fi AP management through a centralized Layer 3 software application. (They were against 802.11b for quite a while, fighting patent battles and other tactics until buying Agere's 802.11b product line.)
Unfortunately, they were unable to capitalize on any of these markets to remain on top or keep up with the many rapid transitions in the industry. Being out in front and being right doesn't always make you money. Proxim also fell afoul of certain patent issues that cost them pretty pennies.
Moseley is acquiring its assets for $21 million. Moseley has been moving aggressively into broadband wireless, and Proxim's portfolio gives them a competitive addition. They will operate Proxim's assets as a division, but are not technically purchasing Proxim which is in Chapter 11 bankruptcy at the moment. This means Proxim shareholders won't get a penny, but that was already expected.