Thursday, July 5, 2007

Terabeam Sells Two Patents for $2.5 Million

Terabeam, which develops mesh, WiMAX, Wi-Fi and millimeter wave wireless products, has sold two of its patents for $2.5 million. As part of the sale, Terabeam and its subsidiaries received a license to continue to make and sell its products generally in the ordinary course of business, subject to certain limitations. The purchaser was not named.

Terabeam has two primary subsidiaries Proxim Wireless Corporation and Ricochet Networks. Proxim Wireless offers WiMAX, Wi-Fi, and other broadband wireless solutions. Ricochet Networks is a portable Wireless Internet Service Provider (WISP) with operational markets in Denver, Colorado and San Diego, California.

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