No Proxim-ity

Struggling WiFi equipment maker, Proxim is likely to announce its future plans, including a very distinct possiblity of a bankruptcy filing, sometime today. Unstrung describes it as Proxim’s D-Day. The company has been looking for a buyout but hasn’t had much success. The company owes Symbol Technologies about $22.75 million as part of patent infringement settlement. Bankruptcy will help Proxim wiggle its way out of that settlement, apparently. Not sure about that yet.

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