Proxim sails up Agere's Orinoco
Proxim is to buy the ORiNOCO-branded WLAN equipment business from Agere Systems for $65m in cash. Following the acquisition, Proxim claims it will have market leadership in the 802.11 sector. The acquisition is funded by Warburg Pincus and Broadview Capital Partners which are investing $75m in return for approx. 28 per cent of stock in the enlarged Proxim.
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