Concept
Commodore International (other names include Commodore International Limited) was an American home computer and electronics manufacturer founded by Jack Tramiel. Commodore International (CI), along with its subsidiary Commodore Business Machines (CBM), was a significant participant in the development of the home-computer industry in the 1970s, 1980s, and early 1990s. The company developed and marketed the world's best-selling computer, the Commodore 64 (1982), and released its Amiga computer line in July 1985. With quarterly sales ending 1983 of in ), Commodore was one of the world's largest personal computer manufacturers. Commodore co-founders Jack Tramiel and Manfred Kapp met in the early 1950s while both employed by the Ace Typewriter Repair Company in New York City. In 1954, they partnered to sell used and reconditioned typewriters and used their profits to purchase the Singer Typewriter Company. After acquiring a local dealership selling Everest adding machines, Tramiel convinced Everest to give him and Kapp exclusive Canadian rights to its products and established Everest Office Machines in Toronto in 1955. By 1958, the adding machine business was slowing. Still, Tramiel made a connection with an Everest agent in England who alerted him to a business opportunity to import into Canada portable typewriters manufactured by a Czechoslovakian company. On October 10, 1958, Tramiel and Kapp incorporated Commodore Portable Typewriter, Ltd. in Toronto to sell the imported typewriters. Commodore funded its operations through factoring over its first two years but faced a continual cash crunch. To bolster the company's financial condition, Tramiel and Kapp sold a portion of the company to Atlantic Acceptance Corporation, one of Canada's largest financing companies, and Atlantic President C. Powell Morgan became chairman of Commodore. In 1962, the company went public on the Montreal Stock Exchange, under the name of Commodore Business Machines (Canada), Ltd.