A Force in The Computing Industry
Burroughs was one of the eight major United States computer companies (with IBM, the largest, Honeywell, NCR Corporation, Control Data Corporation, General Electric, RCA and UNIVAC) through most of the 1960s. In terms of sales, Burroughs was always a distant second to IBM. In fact, IBM's share of the market at the time was so much larger than all of the others, that this group was often referred to as "IBM and the Seven Dwarfs." By 1972 when GE and RCA were no longer in the mainframe business, the remaining five companies behind IBM became known as the BUNCH, an acronym based on their initials.
At the same time, Burroughs was very much a competitor. Like IBM, Burroughs tried to supply a complete line of products for its customers, including Burroughs-designed printers, disk drives, tape drives, computer printing paper, and even typewriter ribbons.
In the 1950s, Burroughs worked with the Federal Reserve Bank on the development and computer processing of magnetic ink character recognition (MICR) especially for the processing of bank cheques. Burroughs made special MICR/OCR sorter/readers which attached to their medium systems line of computers (2700/3700/4700) and this entrenched the company in the computer side of the banking industry.
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