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WirelessDevNet.com Press Release
Terabeam Sells Two Patents for $2.5 Million
SAN JOSE, Calif.-- Terabeam, Inc. (NASDAQ:TRBM), a global pioneer and leading developer and supplier of Mesh, WiMAX, Wi-Fi and Millimeter Wave wireless products and solutions, today announced that it 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.
Robert Fitzgerald, Terabeam’s Chief Executive Officer, stated “We are pleased that we were able to monetize some of our assets in a manner which we believe will not adversely impact the continued operation of our business. This purchase validates the value of our patent portfolio. After the sale of these two patents, we still have over 130 patents with numerous patent applications pending.”
About Terabeam
Terabeam, Inc. has two primary subsidiaries Proxim Wireless Corporation and Ricochet Networks, Inc. Proxim Wireless Corporation is a global leader in providing WiMAX, Wi-Fi, and other broadband wireless solutions to meet the performance, scalability, and security requirements of enterprises, government, and service providers. Ricochet Networks, Inc. is a leading portable Wireless Internet Service Provider (WISP) with operational markets in Denver, Colorado and San Diego, California. Additional information about the company can be found at the company's website located at http://www.terabeam.com or by contacting the company by telephone at 413-584-1425 or by email at IR@terabeam.com.
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