In 1995 Accel bought P-CAD from Altium, then a subsidiary of IBM. Does
anybody here remember this phase? Is this where Altium Ltd got its name? 

Accel buys P-CAD line from IBM's Altium 
By Richard Goering 
EET-i Top of the News, Week of Jan. 16, 1995

SAN DIEGO -- In a surprise acquisition that affects tens of thousands of
pc-board CAD users, tiny Accel Technologies Inc. has purchased the P-CAD
product line from IBM's Altium subsidiary. The move gives Accel a product
line with revenues that far exceed its own, and makes it the volume leader
in printed-circuit-board CAD, with some 75,000 schematic and layout
licenses. 

Accel's 1993 revenue was just $2.6 million, according to analyst Gary Smith
at Dataquest Inc., a fraction of the $23 million that Altium listed in P-CAD
revenue the same year. Accel president Walt Foley qu estioned both figures
but agreed that P-CAD's revenue exceed that of Accel. 

Terms of the acquisition were not revealed, but it follows IBM EDA's
decision to stop distributing its tools through Altium and apparently marks
the death of that operation. According to a statement from Altium president
Ron Stieger, Altium will be phased out as soon as its remaining
products--including mechanical CAD and ruggedized PCs--have been returned to
their IBM product organizations. 

Of more immediate concern to some 30,000 P-CAD licensees is what happens to
their products. Foley, who said he initiated the deal after he saw a news
item in "EE Times" suggesting that P-CAD might be for sale, said Accel will
continue to support and expand the P-CAD product line into the "foreseeable
future," under the P-CAD label. 


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