Wireless networking equipment maker Proxim (PROX) has filed for Chapter 11 bankruptcy protection and has been sold. The company is selling most of its assets to Santa Barbara-based Moseley Associates, a telecommunications equipment maker. The deal is worth $21M. Proxim will become a wholly-owned subsidiary of Moseley, which has acquired a number of communications firms in recent years. According to the companies, the acquisition gives Moseley a portfolio of products covering the 200MHz to 38GHz radio spectrum. Proxim recently received a delisting notification this month from the Nasdaq stock market and recently lost a $23M patent lawsuit to competitor Symbol Technologies.