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SRA Holdings, Inc. become the majority shareholder in Proxim Wireless

1226 Days ago

SILICON VALLEY, Calif., July 31, 2018 (GLOBE NEWSWIRE) -- In a move to secure a unified and visionary approach to the ongoing development and application of Proxim’s technology, SRA Holdings, Inc. (Tokyo Stock Exchange: 3817) have chosen to establish a majority shareholder position in Proxim Wireless Corporation (OTC Markets: PRXM), and have subsequently acquired all equity and debt from the estate of Lloyd I. Miller III.

“This move comes at a time when the practical applications of Proxim’s outdoor and mobile wireless technology are growing exponentially. Whether used for city-wide surveillance systems, high-speed mobility applications or even connecting relief workers to the world, our focus is simple - to bring easily deployed, cost-effective and appropriately scaled communications to where they are most needed,” said Fred Huey, Proxim’s Chief Executive Officer, and Chief Financial Officer.

Toru Kashima, President, SRA Holdings, Inc., said, “It is important to us that we invest in companies whose vision is in line with our corporate philosophy of contributing to the future of humankind by fostering progress in all domains of computer science. We believe that Proxim Wireless has established a track record for the development of technology that effectively and reliably connects people to needed data, a technology that can be equally effective in both the developed and developing world.”

About SRA Holdings, Inc.
SRA Holdings, Inc., a Japan-based information technology holding company, operates in three primary business segments: systems development, systems operations and systems consulting - both in Japan and internationally. Established in 1967, SRA Holdings, Inc. has developed a global network of companies that extends throughout Asia, the US and Europe. The company is at the forefront of application development and maintenance of for large-scale computer systems. They also have a significant role in the implementation of open source business tools, and provide the expertise needed in systems planning, integration, and support of these open systems.

About Proxim Wireless Corporation
Proxim Wireless is a pioneer and global leader in advanced Wi-Fi, point-to-point, and point-to-multipoint outdoor wireless systems designed to deliver high performance and high availability communications.

With over 30 years of wireless experience, Proxim focusses their technology on solving connectivity needs where wired solutions are either impractical or cost prohibitive. With a focus on delivering last mile connectivity, mobile connectivity, and outdoor Wifi, Proxim is recognized for its unparalleled reliability, superior performance and drive for innovation.

Dael A. Bartlett
Vice President of Marketing
Proxim Wireless
Email: DBartlett@proxim.com
Phone: (408) 383 7615

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