Xircom sells wireless LAN unit

Xircom this week said it had sold its Netwave wireless network business to a startup run by its former CEO.

The new company is Netwave Technologies, the result of a management buyout and run by Jerry Ulrich, who also had CFO responsibilities in his time at Xircom. In Europe, Xircom will continue to have responsibility for Netwave until the end of the year.