Intel Corp has decided that its 1989 acquisition of universal communications processor manufacturer Jupiter Technology Inc (CI No 1,215) was a mistake, and it is letting the company go in a management buyout backed by a private investment group. Terms of the transaction were not disclosed. The Waltham, Massachusetts company had 50 employees when Intel bought it, but it is now down to 30. The company will be renamed Jupiter Communications Inc. The buyout is led by founder Kenneth Ingham, who left the company in 1989. Intel had hoped to exploit synergy between Jupiter’s multi-protocol communications CPU, which runs under a real-time Unix-like operating system, and its own Fastpath channel-to-channel communications system (CI No 1,273).
