Proxim Corporate History

Terabeam, Inc., originally called YDI Wireless, Inc., resulted from the merger consummated on April 1, 2003 between Telaxis Communications Corporation and Young Design, Inc. Telaxis was a publicly traded company that focused on developing high capacity millimeter wave wireless products. Young Design was a privately held company that developed, produced, and sold wireless data products, primarily in microwave frequencies. Subsequent to the merger, the company effected a 1 for 100 reverse stock split followed by a 25 for 1 forward stock split, re-incorporated in Delaware, and changed its name to YDI Wireless, Inc. Prior to its merger with Telaxis, Young Design had grown through a combination of organic growth and acquisitions. In March 2003, Young Design acquired certain assets and licensed technologies to permit it to manufacture and sell the Link CX product. In May 2002, Young Design acquired certain assets and licensed technology to permit it to manufacture and sell the Link EX, Link 4X and RAN products. In May 2001, Young Design purchased Zeus Wireless, Inc., a manufacturer of low speed wireless data equipment.

On May 14, 2004, YDI acquired KarlNet, Inc., a pioneer and leader in software development for operating and managing wireless networks. Founded in 1993, KarlNet had grown from a pioneer in Internet firewall and security solutions to a leading provider of wireless software and systems. KarlNet has been integrated into the operations of YDI.

On June 22, 2004, YDI acquired Terabeam Corporation. Terabeam was a provider of broadband wireless solutions that extended and optimized carrier and enterprise networks using high frequency millimeter wave (60 GHz radio frequency) and free space optics (invisible light beam) technologies. Terabeam had a history of significant losses and cash burn. In connection with the merger and subsequent consolidation, YDI reduced capital expenditures, significantly reduced the personnel at Terabeam, closed Terabeam’s two offices in the Redmond, Washington area, and consolidated resources at Terabeam’s North Andover, Massachusetts facility. The North Andover facility has been integrated into YDI focusing on millimeter wave and microwave hardware development and support.

Based on Terabeam’s high level of positive name recognition, in mid-August 2004, YDI decided to adopt the name “Terabeam Wireless” for its go to market strategy.

On June 25, 2004, YDI acquired Ricochet Networks, Inc. Ricochet is a leading mobile Wireless Internet Service Provider (WISP) headquartered in Denver, Colorado.

On July 27, 2005, YDI acquired the operations of Proxim Corporation from the bankruptcy estate of that company. Old Proxim was a leading provider of wireless networking equipment for Wi-Fi and broadband wireless networks, and provided enterprise and service provider customers with wireless solutions for the mobile enterprise, security and surveillance, last mile access, voice and data backhaul, public hot spots, and metropolitan area networks. The equipment business of Proxim Wireless is the combination of the business acquired from Proxim Corporation and the former YDI equipment business.

On November 7, 2005, YDI changed its corporate name to Terabeam, Inc. and its ticker symbol to TRBM.

On September 10, 2007 Terabeam, Inc. changed its corporate name to "Proxim Wireless Corporation," the current name of its largest operating unit. In connection with the name change, the company also changed its ticker symbol from "TRBM" to "PRXM."