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April 6, 1987


By CBR Staff Writer

The attempt at a management buyout of Fortune Systems’ Formula 68020 and 68000-based 32:16 Unix systems manufacturing and marketing business has failed, and Fortune has a letter of intent to sell to SCI Systems Inc of Huntsville, Alabama for an undisclosed sum. Fortune Systems is now left with its tiny Tigera Unix software development and marketing business in Belmont, California, $20m cash in the bank, plus whatever it received from SCI for the hardware business – plus some $60m in unused tax loss carry forwards racked up as Fortune accumulated losses over the years. SCI is mainly a subcontractor, but also builds Intel family Unix systems.

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