December 15, 2005
 

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MDS Parent Company, Moseley Associates, Inc., Announces It Will Not Acquire Significant Assets of Proxim Corporation

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Microwave Data Systems (MDS), a world leader in industrial, wireless, networking solutions with applications in the supervisory control and data acquisition (SCADA), public safety, automation, telecommunications, and online transactional markets, today announced that its parent company, Moseley Associates, Inc., elected not to make the highest bid in the U.S. Bankruptcy-approved auction for the significant assets of Proxim held on July 18, 2005.

As a result, Moseley will not be proceeding with the acquisition of the significant assets of Proxim as previously announced on June 11, 2005. “Moseley’s success in the past has stemmed from a strong financial discipline, and we saw no need to change that approach in this opportunity,” said Jamal Hamdani, president and chief executive officer of Moseley. “We wish the successful bidder the best for the future and hope they will look after the employees, customers, and partners of Proxim with the same compassion we were prepared to do.”



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