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Hayes Marketing Inc company history timeline

1977

With friends, they built a handful of modems daily, releasing the product in April 1977.

1982

By 1982, they were selling 140,000 modems annually, with $12 million in revenue.

1984

By July 1984, Hayes was a leading modem manufacturer, gaining household-name status and holding nearly 60 percent of the 300-baud and 1200-baud markets.

1987

In 1987, Hayes Martin Associates was established, setting in motion over three decades of creativity, visionary thinking and collaboration.

1988

Bizcomp followed in February 1988, agreeing to pay two percent royalties on sales of modems using the patented sequence and obtaining a licensing contract.

The industry war began in earnest in mid-1988 when Hayes sued Everex Systems Inc. and OmniTel Inc.

1991

In January 1991, Hayes, holding approximately 12 percent of the United States market, bought the assets of Waterloo Microsystems, a Canadian software firm, and had regional headquarters in London and Hong Kong.

1992

Hayes was back in court in 1992 with Multi-Tech in a dispute over modem reliability, unfair competition, and libel.

1994

Hayes was not alone though; other manufacturers also felt the pinch: Intel Corp. sold most of its modem business, and Megahertz Corp. reported losses early in 1994, eventually being purchased by United States Robotics.

1995

Hayes tapped Andersen & Co. in February 1995 to oversee restructuring and consolidation of operations.

A hostile takeover bid came in October from rival manufacturer Diamond Multimedia Systems and, in May 1995, Belgrave Investment Trust purchased $5 million of unsecured debt from Hayes's creditors in the first step of a hostile takeover.

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