Sale To Pertec
In 1976, MITS had 230 employees and sales of $6 million. Roberts was tiring of his management responsibilities and was looking for a larger partner. MITS had always used Pertec Computer Corporation disk drives and on December 3, 1976, Pertec signed a letter of intent to acquire MITS for $6 million in stock. The deal was completed in May 1977 and Roberts' share was $2 million. The Altair products were merged into the Pertec line, and the MITS facility was used to produce the PCC-2000 small-business computer. The Albuquerque plant was closed in December 1980 and the production was moved to the Pertec plants in Irvine, California.
Read more about this topic: Ed Roberts (computer Engineer)
Famous quotes containing the word sale:
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It might be in a store somewhere beside a lady’s scarf.”
—Anne Sexton (1928–1974)