History
In late 1952, Glen P. Robinson and several other Georgia Tech Research Institute researchers, including station director Gerald Rosselot and future station director James E. Boyd pooled funds of approximately $100 each, and started Scientific Atlanta to produce technology developed at the research station.
Sidney Topol served as its president from 1971-83, CEO from 1975-87, and chairman of the board from 1978-90. During his tenure, the company grew in sales from $16 million to more than $600 million. In addition, the company developed the concept of cable/satellite connection, which, in working with HBO and transportable earth stations developed by TelePrompTer Corporation and manufactured by Scientific-Atlanta, established satellite-delivered television for the cable industry.
On November 18, 2005, Scientific Atlanta announced that it would be purchased by Cisco Systems in a US$6.9 billion cash deal. On February 25, 2006, Cisco Systems announced that it had completed acquisition of Scientific Atlanta in a cash deal that paid $43 per share. The total cash value of the deal was roughly US$7 billion, or US$5.1 billion net of Scientific Atlanta's cash balance, and also about US$5.1 billion over their 2005 shareholders' equity. In its fiscal year 2005, Scientific Atlanta earned $1.36 per common share (diluted).
The company was honored at the 2008 Technology & Engineering Emmy Awards for development of interactive Video-on-Demand infrastructure and signaling, leading to large scale VOD implementations.
Read more about this topic: Scientific Atlanta
Famous quotes containing the word history:
“Throughout the history of commercial life nobody has ever quite liked the commission man. His function is too vague, his presence always seems one too many, his profit looks too easy, and even when you admit that he has a necessary function, you feel that this function is, as it were, a personification of something that in an ethical society would not need to exist. If people could deal with one another honestly, they would not need agents.”
—Raymond Chandler (1888–1959)
“To summarize the contentions of this paper then. Firstly, the phrase ‘the meaning of a word’ is a spurious phrase. Secondly and consequently, a re-examination is needed of phrases like the two which I discuss, ‘being a part of the meaning of’ and ‘having the same meaning.’ On these matters, dogmatists require prodding: although history indeed suggests that it may sometimes be better to let sleeping dogmatists lie.”
—J.L. (John Langshaw)
“I feel as tall as you.”
—Ellis Meredith, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 14, by Susan B. Anthony and Ida Husted Harper (1902)