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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
April 28, 1999
Proxim, Inc.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
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0-22700 77-0059429
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(Commission File No.) (IRS Employer Identification Number)
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295 North Bernardo Avenue
Mountain View, California 94043
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(Address of Principal Executive Offices)
(650) 960-1630
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
The purpose of this Form 8-K is to file a press release issued by Proxim,
Inc. and Intel Corporation on April 28, 1999 regarding a technology agreement
and an investment agreement between Proxim, Inc. and Intel Corporation. A copy
of the press release is filed herewith as Exhibit 99.1 and is hereby
incorporated by reference to this Item 5.
99.1 Press Release dated April 28, 1999 regarding technology agreement
and investment agreement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: April 30, 1999 PROXIM, INC.
By: /s/ Keith E. Glover
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Name: Keith E. Glover
Title: Vice President of Finance
and Administration
and Chief Financial Officer
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INDEX TO EXHIBITS
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EXHIBIT
NUMBER DESCRIPTION
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99.1 Press Release dated April 28, 1999 regarding technology agreement
and investment agreement.
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Exhibit 99.1
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(BW) (CA-INTEL/PROXIM) (PROX) Intel and Proxim to Further Wireless Home
Networking
Business Editors/High Tech Writers
SANTA CLARA, Calif.--(BUSINESS WIRE)--April 28, 1999--Intel Corporation
and Proxim, Inc. (Nasdaq:PROX) today announced that the two companies have
completed a technology agreement and an Intel equity investment in Proxim.
Proxim, a leading supplier of wireless LAN products, and Intel are
currently working together to develop wireless home networking products based
on the HomeRF SWAP (Shared Wireless Access Protocol) specification. The SWAP
specification provides a standards-based solution that is designed to enable a
broad range of interoperable consumer devices to use wireless data and voice
communications in and around the home.
Intel has purchased 320,000 shares of Proxim common stock, comprising
approximately 2.9 percent of the Company's outstanding shares, and has acquired
a warrant to purchase 96,000 additional shares, subject to vesting conditions.
"Intel's technology relationship with Proxim is an important part of our
home networking strategy and helps further our vision of a billion connected
PCs in the next decade," said Dan Sweeney, general manager of Intel's Home
Networking Operation. "Wireless solutions based on the HomeRF SWAP
specification complement Intel's line of phoneline networking products and
extend home networking to mobile devices in and around the home. We are working
to further the worldwide growth of home networking."
"As the world's leading supplier of spread spectrum wireless LAN products,
Proxim provides a unique set of radio-based broadband networking capabilities,"
said David C. King, chairman, president and CEO of Proxim. "These capabilities,
together with Intel's leadership in the personal computer and communication
industries, will help establish HomeRF products as the primary way to connect
mobile devices in the home."
About Home RF and SWAP
The HomeRF Working Group was formed to provide the foundation for a broad
range of interoperable consumer devices by establishing an open industry
standard (SWAP Specification) for wireless digital communication between PCs
and consumer electronic devices. The SWAP Specification defines a new common
interface specification that supports wireless data and voice services in and
around the home.
Products compliant with the SWAP Specification operate in the 2.4 GHz
frequency band and use frequency hopping spread spectrum radio frequency
technology. For additional information on the HomeRF Working Group and SWAP,
visit the web site at www.homerf.org.
About the Companies
Headquartered in Mountain View, Calif., Proxim, Inc., is the world's
leading supplier of spread spectrum wireless LAN products to OEMs and wireless
solution providers. Proxim was first to market with 2.4 GHz frequency hopping
wireless LAN technology with its RangeLAN2(TM) product family in 1994.
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In 1998, Proxim emerged as a leader in home networking solutions with the
launch of its award-winning Symphony(TM) suite of cordless networking products
for home and small office environments. Proxim is also a core member of the
HomeRF Working Group and is committed to delivering HomeRF-compliant wireless
networking technologies. Additional information about Proxim is available at
www.proxim.com.
Intel is a core member of the HomeRF Working Group and is actively working
to promote industry standards and help deliver home networking solutions that
extend the value of home PCs, and richness of the Internet anywhere in the
home. Intel recently introduced the AnyPoint(TM) Home Network based on the Home
Phoneline Network Alliance specification, using existing phone lines to connect
home PCs without the need for additional wiring.
Intel, the world's largest chip maker, is also a leading manufacturer of
computer, networking, and communications products. Additional information about
Intel is available at www.intel.com/pressroom.
This press release contains forward-looking statements regarding the
worldwide growth of home networking, the availability of wireless home
networking products, the development of industry standards and strategic
alliances. Forward-looking statements involve a number of risks and
uncertainties including, but not limited to, Proxim's ability to successfully
develop, manufacture and gain market acceptance of new products, in particular
its home networking products; dependence on the emerging home networking market
segment; the cost, availability and quality of assemblies and finished products
from contract manufacturers; dependence on a limited number of OEM customers;
rapid technological change; evolving industry standards; international sales;
the highly competitive nature of the wireless LAN market segment; and other
factors more fully described in the Proxim's reports to the Securities and
Exchange Commission, including, but not limited to, the report on Form 10-K for
the year ended December 31, 1998, and the reports on Form 10-Q filed during
1998. Actual results may differ materially from such forward-looking
statements. Proxim does not undertake to update any oral or written
forward-looking statements that may be made by or on behalf of Proxim.
Note to Editors: Third-party marks and brands are the property of their
respective holders.
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CONTACT: Intel Corporation
Ursula Herrick, 408/765-5728
[email protected]
or
Proxim, Inc.
Dan Spalding, 650/526-3619
[email protected]
