Commodore Assets Purchased out of Bankruptcy
German company Escom AG purchases the rights to the name, patents, and intellectual property of Commodore Electronics, which had declared bankruptcy in 1994. Commodore was a pioneer in the personal computing industry, holding some impressive records such as having the best selling computer in history with the Commodore 64, which The Guinness Book of Records estimates about 30 million units were sold over the course of 10 years from 1982 to 1992, the first computer company to have over 50% of the home PC market, and the first company to make over $1 billion in sales. They also created some of the most innovative computers in the early PC market such as the first multimedia computer, the Amiga. Unfortunately for Commodore as it was with many early PC companies, the juggernaut of the IBM-compatible PC combined with poor management was their ultimate undoing.