Path: utzoo!attcan!uunet!bu.edu!snorkelwacker!tut.cis.ohio-state.edu!husc6!brauer!fry
From: fry@brauer.harvard.edu (David Fry)
Newsgroups: comp.sys.mac.misc
Subject: Apple, Atkinson, Hertzfeld form new company
Message-ID: <3470@husc6.harvard.edu>
Date: 11 Jul 90 21:28:39 GMT
Sender: news@husc6.harvard.edu
Organization: Harvard Math Department
Lines: 40


I read someone mentioning this just yesterday...here's the
official press release.

-----------------------------cut here--------------------------

OTC  07/11 0901  APPLE COMPUTERS CREATES NEW SPINOUT COMPANY

CUPERTINO, CA (JULY 11) BUSINESS WIRE - Apple Computer Inc. Wednesday  announced
the formation of a new spinout company, General Magic Inc. 
   Former Apple employees Bill Atkinson, Andy Hertzfeld and Marc Porat founded
the new company and will serve as General Magic's executive team.  Apple will
become a minority investor and General Magic's largest corporate shareholder. 
Apple also has the first non-exclusive license to manufacture and market the
spinout's technologies.  Apple chairman and CEO John Sculley will serve on
General Magic's board of directors. 
   According to General Magic's founders, the new concern will design and 
develop a new class of "Personal Intelligent Communicator" products. 
   "We're excited that Apple will be working closely with these industry
pioneers as they develop their revolutionary new vision of computing and
communication," Sculley said. 
   Sculley also said that Apple chose to spinout the project because the new
concern will address market segments outside of Apple's mainstream business. 
"The spinout relationship gives Apple a venue to expand the portfolio of its
activities while focusing the company's resources on advancing personal
computing," Sculley said. General Magic said that Apple's management and many of
Apple's employees have been actively involved in developing the concepts that
led to the creation of the spinout.  "With John Sculley on our board, we expect
the relationship between the two companies to be strong and productive," General
Magic's founders said. 
   Bill Atkinson, a 12-year Apple employee, will maintain his ties with the
company by becoming an Apple Fellow Emeritus. 
   -- Apple, and the Apple logo are registered trademarks of Apple Computer Inc.
   -- General Magic, the General Magic logo, and "Personal Intelligent
Communicator" are trademarks of General Magic Inc. 
   CONTACT:  Regis McKenna Inc. 
    Jane Anderson, 415/354-4451 
           or 
    Apple Computer Inc. 
    Christopher Escher, 408/974-2202.