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Ricochet Sold for Second Time in Seven Months

Posted on Wednesday 30 June 2004

Washington-based WiFi developer and distributor YDI Wireless has agreed to acquire the assets of Ricochet in a cash and stock deal worth slightly over US$5M. Ricochet’s WMAN architecture was developed by Metricom, which subsequently filed for bankruptcy. The network and technology was acquired in 2001 by Aerie Networks, which sold Ricochet late last year to EDL. YDI said it bought Ricochet as much for its technology patents as for its network services, although the YDI said it will consider reactivating some of the 12 Ricochet networks which have been mothballed since Metricom went under.

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