Texas Instruments
In 1930, J. Clarence Karcher and Eugene McDermott founded Geophysical Service, an early provider of seismic exploration services to the petroleum industry. In 1939, the company reorganized as Coronado Corp., an oil company with Geophysical Service Inc (GSI), now as a subsidiary. On December 6, 1941, McDermott along with three other GSI employees, J. Erik Jonsson, Cecil H. Green, and H.B. Peacock purchased GSI. During World War II, GSI expanded their services to include electronics for the U.S. Army, Signal Corps, and the U.S. Navy. In 1951, the company changed its name to Texas Instruments, with GSI becoming a wholly owned subsidiary of the new company.
Altair 8800
In addition to calculators, MITS made a line of test equipment kits. These included an IC tester, a waveform generator, a digital voltmeter, and several other instruments. To keep up with the demand, MITS moved into a larger building at 6328 Linn NE in Albuquerque in 1973. They installed a wave soldering machine and an assembly line at the new location. In 1972, Texas Instruments developed its own calculator chip and started selling complete calculators at less than half the price of other commercial models. MITS and many other companies were devastated by this, and Roberts struggled to reduce his quarter-million-dollar debt.