This was a version of Windows 2.1 adapted for the 80386 processor. The only part which had to be duplicated was the BIOS, which Compaq did legally by using clean room design at a cost of $1 million. The board complained that Pfeiffer was too removed from management and the rank-and-file, as he surrounded himself with a "clique" of Chief Financial Officer Earl Mason, Senior Vice-President John T. Rose, and Senior Vice-President of Human Resources Hans Gutsch. Photo courtesy of Hewlett-Packard Show More Show Less 5 of 6 The Compaq founders: Compaq was . compaq founders net worth. Most of Compaq's competitors except Dell were later acquired by bigger rivals like Acer (Gateway 2000 and Packard Bell) and Lenovo absorbing IBM's PC division. Compaq Computer Corporation (sometimes abbreviated to CQ prior to a 2007 rebranding) was an American information technology company founded in 1982 that developed, sold, and supported computers and related products and services. Compaq originally competed directly against IBM, manufacturing computer systems equivalent with the IBM PC, as well as Apple Computer. [114], On August 18, 2011, then-CEO of HP Leo Apotheker announced plans for a partial or full spinoff of the Personal Systems Group. By giving dealers considerable leeway in pricing Compaq's offerings, either a significant markup for more profits or discount for more sales, dealers had a major incentive to advertise Compaq. The software should stand on its merits and be supported and so should the hardware. CEO Pfeiffer boldly predicted that the Microsoft/Intel "Wintel" duopoly would be replaced by "Wintelpaq". It's hard for co-founders to make time for conversation. Compaq struggled as a result of the collapse of the Dot-com bubble, which hurt sales of their high-end systems in 2001 and 2002, and they managed only a small profit in a few quarters during these years. Pink Flamingos Chicken, Compaq introduced the first PC based on Intel's new 80386 microprocessor, the Compaq Deskpro 386, in 1986. [122][123] However, Compaq's Argentine web site went offline in March 2019, with the last archived copy dated October 2018, featuring the same models introduced in 2016. Senior Vice-president for North America Ross Cooley announced his resignation effective at the end of 1996. George Tchortov Wikipedia, Shirt sponsors, Market share of personal computer vendors, "Hewlett-Packard and Compaq Agree to Merge, Creating $87 Billion Global Technology Leader", "Hewlett-Packard in Deal to Buy Compaq for $25 Billion in Stock", "Compaq Appoints Michael D. Capellas President and Chief Executive Officer", "COMPAQ COMPUTER CORPORATION | The Handbook of Texas Online| Texas State Historical Association (TSHA)", "Compaq: From place mat sketch to PC giant", "Compaq Computer Corporation (American corporation) Britannica Online Encyclopedia", "Compaq Computer Looks Back and Sees the Competition Gaining New York Times", "BUSINESS PEOPLE; Compaq Founder Shifts to Religion", "Loyd Case: A Trip Down Memory Lane with Hewlett-Packard & Compaq", "Real Trouble: How Reverse Engineering May Yet Kill Real Networks", "Chronology of Personal Computers (1982)", "IBM PC clone makers shun total compatibility", "Compaq Vying To Become the IBM of the '90s", "THE EXECUTIVE COMPUTER; The Race to Market a 486 Machine", "PC World The 25 Greatest PCs of All Time", Coming To America: Compaq's European Star - Businessweek, "COMPANY NEWS; Compaq Payment To Former Chief", "Compaq Computer Corporation [Archive] - Vintage Computer Forum", "Sound Bytes; He Who Fielded Compaq's 'SWAT Team, "Compaq Computer Looks Back and Sees the Competition Gaining", "Compaq Computer Outlines New Lower-Cost Approach", "FAST TIMES AT COMPAQ WITH ECKHARD PFEIFFER AT THE WHEEL, COMPAQ IS PASSING OTHER PC MAKERS. Pfeiffer also made several major and some minor acquisitions. . 7 min read. Hewlett-Packard's PC business had similar challenges like Compaq but this was offset by HP's extremely lucrative printer business, while IBM sold PCs at a loss but used them to lock in multi-year services contracts with customers. CARLSBAD, Calif.--Ever wonder where Compaq founder Rod Canion is? "Mac" McLoughlin (another long time IBM executive) led the company's field sales organization after starting up the Western U.S. Area of Operations. Chase Quickpay With Zelle Limit, 2 among PC manufacturers, Capellas proclaimed "We are No. From Dropout to 7-Figure Net Worth: The Inspiring Journey of Steven Cohen, Co-Founder of Sunder Energy. While IBM and HP were able generate repeat business from corporate customers to drive sales of their different divisions, Compaq had not yet managed to make its newly acquired sales and services organizations work as seamlessly. [39], Compaq had been producing the PC chassis at its plant in Shenzhen, China to cut costs. [85], In 2002, Compaq signed a merger agreement with Hewlett-Packard for $24.2 billion,[86] including $14.45 billion for goodwill, where each Compaq share would be exchanged for 0.6325 of a Hewlett-Packard share. [30][31] Bill Gates of Microsoft later said[32]. Compaq had originally wanted to purchase only Digital's services business but that was turned down. [39][44], Compaq had decided to make a foray into printers in 1989, and the first models were released to positive reviews in 1992. In return, NaviSite took Compaq as a preferred provider for its storage and Intel-based servers. The name was chosen from many suggested by Ogilvy & Mather, it being the name least rejected. Pfeiffer served through the 1990s. HP laid off thousands of former Compaq, DEC, HP, and Tandem employees,[103][104] its stock price generally declined and profits did not perk up. By summer 1998, Compaq was suffering from product-quality problems. [54] When the announcement was made, it was initially viewed as a master stroke as it immediately gave Compaq a 22,000 person global service operation to help corporations handle major technological purchases (by 2001 services made up over 20% of Compaq's revenues, largely due to the Digital employees inherited from the merger), in order to compete with IBM. He's with Questia Media, which wants to bring a university-class library to a high . Compaq was founded in February 1982 by Rod Canion, Jim Harris, and Bill Murto, three senior managers from semiconductor manufacturer Texas Instruments. However, the combined HP-Compaq struggled and fell to second place behind Dell from 2003 to 2006. [108] Overall, it has been suggested that the purchase of Compaq was not a good move for HP, due to the narrow profit margins in the commoditized PC business, especially in light of IBM's 2004 announcement to sell its PC division to Lenovo. Born-February 24, 1955,, San Francisco, California, U.S. Died- October 5, 2011, Palo Alto. In a statement, Pfeiffer said "Compaq has come a long way since I joined the company in 1983" and "under Ben's guidance, I know this company will realize its potential. For the first three months after announcement, the Deskpro 386 shipped with Windows/386. [39][40] An analyst stated that "Compaq has made a lot of tactical errors in the last year and a half. The New York Times claimed that your net worth is $1m, which it said "isn't Silicon Valley money. Compaq also built up a network engineering and marketing staff. It was Compaq's first non-portable computer and began the Deskpro line of computers. And what is Elon Musk himself worth? [87], Analysts on Wall Street were generally critical of the merger, as both companies had been struggling before the announcement, and the stock prices of both companies dropped in the months after the merger agreement was made public. Plus there were significant cultural differences between HP and Compaq; which made decisions by consensus and rapid autocratic styles, respectively. [63] However, by February 1999, analysts were sceptical of Compaq's plan to sell both direct and to resellers. Nra Knife 2019, Business partners . [37][38] Pfeiffer, while transplanting Compaq's U.S. strategy of dealer-only distribution to Europe, was more selective in signing up dealers than Compaq had been in the U. S. such that European dealers were more qualified to handle its increasingly complex products. [51] In 1997 Microcom was also acquired, based in Norwood, MA, which brought a line of modems, Remote Access Servers (RAS) and the popular Carbon Copy software. [25] "Many industry observers think [Compaq] is poised for meteoric growth", The New York Times reported in March of that year. Mat Best, the co-founder of the Black Rifle Coffee Company, is a former Army Ranger and CIA contractor. [93] While Compaq shareholders unanimously approved the deal, there was a public proxy battle within HP as the deal was strongly opposed by numerous large HP shareholders, including the sons of the company founders, Walter Hewlett and David W. Packard, as well as the California Public Employees Retirement System (CalPERS) and the Ontario Teachers' Pension Plan. 2000 Seadoo Xp Specs, [105] Though the combination of both companies' PC manufacturing capacity initially made the post-merger HP number one, it soon lost the lead and further market share to Dell which squeezed HP on low end PCs. [11][15] As it grew, Compaq became so important to Houston that it negotiated the expansion of Highway 249 in the late 1980s, and many other technology companies appeared in what became known as the "249 Corridor". (Windows, running on top of the MS-DOS operating system, would not become a popular "operating environment" until at least the release of Windows 3.0 in 1990.). [88][89][98] Detractors of the deal noted that buying Compaq was a "distraction" that would not directly help HP take on IBM's breadth or Dell Computer's direct sales model. Maksymilian Rafailovych " Max " Levchin ( Ukrainian: ; born July 11, 1975) is a Ukrainian-American software engineer and businessman. "[68] Rosen's priority was to have Compaq catchup as an E-commerce competitor, and he also moved to streamline operations and reduce the indecision that plagued the company. The expected layoffs at Compaq and HP, 8500 and 9000 jobs respectively, would leave the combined company with a workforce of 145,000. [60] Dell and Gateway sold direct, which helped them to avoid Compaq's inventory problems and compete on price without dealer markups, plus Gateway sold web access and a broad range of software tailored to small businesses. [47] Unlike IBM and HP, Compaq would not build up field technicians and programmers in-house as those could be costly assets, instead Compaq would leverage its partnerships (including those with Andersen Consulting and software maker SAP) to install and maintain corporate systems. Around that same year, Globalk (a Brazilian-based retailer and licensing management firm) started a partnership with HP to re-introduce the brand with a new line of desktop and laptop computers. [121], In 2015, Grupo Newsan (an Argentinian-based company) acquired the brand's license, along with a $3 million investment, and developed two new lines of Presario notebooks for the local market over the course of the year. [115][116] However, the announcement of the PC spinoff (concurrent with the discontinuation of WebOS, and the purchase of Autonomy Corp. for $10 billion) was poorly received by the market, and after Apotheker's ouster, plans for a divestiture were cancelled. In 1997, Compaq bought Tandem Computers, known for their NonStop server line. [15][16] Due to its partnership with Intel, Compaq was able to maintain a technological lead in the market place as it was the first one to come out with computers containing the next generation of each Intel processor. [39] [18] Digital Equipment, which had nearly twice as many employees as Compaq while generating half the revenue, had been a leading computer company during the 1970s and early 1980s. Jimmy Wales (wikipedia founder) married Kate Garvey (Tony Blair's . [110] Former Compaq CEO Capellas was mentioned by some as a potential successor, but several months afterwards, Mark Hurd was hired as president and CEO of HP. [89], In 2002, Compaq signed a merger agreement with Hewlett-Packard for US$24.2 billion,[89] including US$14.45 billion for goodwill, where each Compaq share would be exchanged for 0.6325 of a Hewlett-Packard share. CO-FOUNDER, NETSCAPE, ANDREESSEN HOROWITZ . [36], Compaq had been producing the PC chassis at its plant in Shenzhen, China to cut costs. Compaq was hit with two class-action lawsuits, as a result of CFO Earl Mason, SVP John Rose, and other executives selling US$50 million of stock before a conference call with analysts, where they noted that demand for PCs was slowing down. Rivkin, Jan W., and Porter, Michael E. Matching Dell, Harvard Business School Case 9-799-158, June 6, 1999. [130], In 2009, HP sold part of Compaq's former headquarters to the Lone Star College System. Compaq went public in 1983 on the NYSE and raised $67 million. [108] In October 2012, according to Gartner, Lenovo took the lead as the number one PC manufacturer from HP, while IDC ranked Lenovo just right behind HP. [90] Hewlett-Packard had reported yearly revenues of $47 billion, while Compaq's was $40 billion, and the combined company would have been close to IBM's $90 billion revenues. This was combined with Hewlett-Packard's ticker symbol (HWP) to create the current ticker symbol (HPQ). In May 2007, HP announced in a press release a new logo for their Compaq Division to be placed on the new model Compaq Presarios. Elon Musk, of course, is the man behind Tesla and SpaceX and the. In 2015, the Argentine company Grupo Newsan acquired the brand's license, alongside with a $3 million investment, and developed two new lines of Presario notebooks for the local market over the course of the year. It was considerably faster than an IBM PC and was, like the original Compaq Portable, also capable of running IBM software. THE COMPANY RECENTLY HIT A SPEED BUMP--BUT THE FUTURE'S SO BRIGHT THE CEO HAS TO WEAR SHADES", "COMPANY NEWS; Wide Range Of Price Cuts By Compaq", "Compaq Regroups Into 3 Management Units New York Times", "Compaq buys Microcom: Compaq Computer Corp. grabbed for a", "Eckhard's Gone But the PC Rocks On Compaq's CEO blames his ouster on a savagely competitive industry. By the mid-1990s, Compaq's price war had enabled it to overtake IBM and Apple, while other IBM PC Compatible manufacturers such as Packard Bell and AST were driven out from the market. Shirt sponsors, Market share of personal computer vendors, "Hewlett-Packard and Compaq Agree to Merge, Creating $87 Billion Global Technology Leader", "Hewlett-Packard in Deal to Buy Compaq for $25 Billion in Stock", "Compaq Appoints Michael D. Capellas President and Chief Executive Officer", "COMPAQ COMPUTER CORPORATION | The Handbook of Texas Online| Texas State Historical Association (TSHA)", "Compaq: From place mat sketch to PC giant", "Compaq Computer Corporation (American corporation) Britannica Online Encyclopedia", "Compaq Computer Looks Back and Sees the Competition Gaining New York Times", "Compaq to Acquire Digital, Once an Unthinkable Deal", "BUSINESS PEOPLE; Compaq Founder Shifts to Religion", "Loyd Case: A Trip Down Memory Lane with Hewlett-Packard & Compaq", "Real Trouble: How Reverse Engineering May Yet Kill Real Networks", "Chronology of Personal Computers (1982)", "IBM PC clone makers shun total compatibility", "Compaq Vying To Become the IBM of the '90s", "THE EXECUTIVE COMPUTER; The Race to Market a 486 Machine", "PC World The 25 Greatest PCs of All Time", "Coming To America: Compaq's European Star", "COMPANY NEWS; Compaq Payment To Former Chief", "Compaq Computer Corporation [Archive] - Vintage Computer Forum", "Sound Bytes; He Who Fielded Compaq's 'SWAT Team', "Compaq Computer Looks Back and Sees the Competition Gaining", "Compaq Computer Outlines New Lower-Cost Approach", "FAST TIMES AT COMPAQ WITH ECKHARD PFEIFFER AT THE WHEEL, COMPAQ IS PASSING OTHER PC MAKERS. [75] Mason, senior vice president and chief financial officer, had previously been offered the job of chief executive of Alliant Foodservice, Inc., a foodservice distributor based in Chicago, and he informed Compaq's board that he accepted the offer. [43] Compaq's inventory and gross margins were better than that of its rivals which enabled it to wage the price wars. For this question we spent 25 hours on research (Wikipedia, Youtube, we read books in libraries, etc) to review the post. Support for the virtual 8086 mode was added by Compaq engineers. March 10, 2002 1:31 a.m. PT. Nov. 4 2021, Published 1:49 p.m. [85], However Compaq still struggled against lower-cost competitors with direct sales channels such as Dell who took over the top spot of PC manufacturer from Compaq in 2001. Which Of The Following Items Should Not Be On A Work Life Analysis. [citation needed], The company was formed by Rod Canion, Jim Harris, and Bill Murto, all of whom were former Texas Instruments senior managers. [53] The merger made Compaq, at the time, the world's second largest computer maker in the world in terms of revenue behind IBM. [35], Pfeiffer had joined Compaq from Texas Instruments, and established operations from scratch in both Europe and Asia. The Compaq 386 computer marked the first CPU change to the PC platform that was not initiated by IBM. Save my name, email, and website in this browser for the next time I comment. Dell overtook Compaq and became the number-one supplier of PCs in 2001. Even rival Tandy Corporation acknowledged Compaq's leadership, stating that within the Gang of Nine "when you have 10 people sit down before a table to write a letter to the president, someone has to write the letter. After the election, there could be greater federal support for this research. [50] This acquisition instantly gave Compaq a presence in the higher end business computing market. Mark Cuban: Box. Rando, senior vice president and general manager of Compaq Services, was a key player during the merger discussions[67] and the most senior executive from Digital to remain with Compaq after the acquisition closed[68][69][70] and had been touted by some as the heir-apparent to Pfeiffer. [34] Pfeiffer became president and CEO of Compaq later that year, as a result of a boardroom coup led by board chairman Ben Rosen that forced co-founder Rod Canion to resign as president and CEO. who is jim ratcliffe and what is his net worth? HP's Jornada PDAs were replaced by Compaq iPAQ PDAs, which were renamed HP iPAQ. 7,100 crore. [128], After Canion's ouster, senior vice-president of human resources, Hans W. Gutsch, oversaw the company's facilities and security. [45], In 1996, despite record sales and profits at Compaq, Pfeiffer initiated a major management shakeup in the senior ranks. [76] Rose was succeeded by SVP Enrico Pesatori, who had previously worked as a senior executive at Olivetti, Zenith Data Systems, Digital Equipment Corp. and Tandem Computers. He has a net worth of $3 billion. It was projected to have $2.5 billion in annual cost savings by mid-2004. 2 min read. [64][65][66], On April 17, 1999, just nine days after Compaq reported first-quarter profit being at half of what analysts had expected, the latest in a string of earnings disappointments, Pfeiffer was forced to resign as CEO in a coup led by board chairman Ben Rosen. Eckhard Pfeiffer, president and CEO, introduced a whole series of executive perks to a company that had always had an egalitarian culture; for instance, he oversaw the construction of an executive parking garage, previously parking places had never been reserved. In 1999, Canion admitted that his ouster was justified, saying "I was burned out. [111], In 2008, HP reshuffled its business line notebooks. For 15.03.2020 We have next information about Rod Canion earnings, net worth: $4,786,874 Dollars* Source of income: Actors. Cooley would report to Michael S. Swavely, vice president for marketing, who was given increased responsibility and the title of vice president for sales and marketing. - Free Online Library", "The Coming Local HP Implosion Swamplot: Houston's Real Estate Landscape", "Hewlett Packard Buildings #7 & #8 - Controlled Demolition, Inc", "COMPAQ: Building implosion, HP and Apple", HP-Compaq merger (washingtontechnology.com) Archived, https://en.wikipedia.org/w/index.php?title=Compaq&oldid=1127458986, American companies disestablished in 2002, Computer companies disestablished in 2002, Defunct computer companies of the United States, Pages with non-numeric formatnum arguments, Articles with dead external links from May 2017, Articles with permanently dead external links, Short description is different from Wikidata, Articles with unsourced statements from December 2022, Articles with unsourced statements from February 2019, Articles with specifically marked weasel-worded phrases from March 2014, Wikipedia articles needing clarification from May 2012, Articles containing potentially dated statements from January 2013, All articles containing potentially dated statements, Articles with unsourced statements from March 2022, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 14 December 2022, at 20:58. BIO: Serial entrepreneur Blank took four companies public, has a net worth estimated at around $2.5 billion and is considered the dean of Silicon Valley. This was combined with Hewlett-Packard's ticker symbol (HWP) to create the current ticker symbol (HPQ). [11][15], In 1987, company co-founder Bill Murto resigned to study at a religious education program at the University of St. Thomas. Compaq sponsored Queens Park Rangers F.C. However, the HP EliteBook line became the top of the business notebook lineup while the HP Compaq B series became its middle business line.
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