History (1990): Philips Agrees to Purchase Control Data Shares of Laser Magnetic Storage International Company

Laser Magnetic Storage International Company (LMS) announced that its parent company, North American Philips Corporation has reached agreement in principal with Control Data Corporation to purchase Control Data’s 49% interest in the US- based mass storage joint venture which becomes now a wholly-owned subsidiary of Philips.

LMS, formed as a joint venture between N.V. Philips of The Netherlands (51%) and Control Data Corporation (49%) in August 1986, develops, manufactures and markets mass storage products to OEMs and VARs.

The Optical Storage Division of LMS (formerly Optical Storage International – OSI), based in Colorado Springs, CO, produces both WORM and CD-ROM products. The Tape Storage Division of LMS (formerly Computer Peripherals, Inc. – CPI), based in Valley Forge, PA., produces open reel and cartridge magnetic tape products.

When Imprimis was acquired by CDC, Seagate didn’t want to purchase the CDC interest in LMS.

This article is an abstract of news published on the former paper version of Computer data Storage Newsletter on issue ≠26, published on March 1990.