Phoenix Technologies

In 1979, Neil Colvin founded Phoenix Software Associates, later bringing on former colleague Dave Hirschman. Their initial focus was on developing customized versions of 86-DOS for various microprocessors. However, the real opportunity emerged with the rise of the IBM PC. While other companies struggled to legally reverse-engineer IBM's BIOS, Phoenix developed a 'clean room' approach. This method ensured their programmers never saw IBM's code, thus avoiding copyright infringement and enabling PC manufacturers to create 100% compatible clones. The first Phoenix PC ROM BIOS, released in May 1984, was a game-changer. It allowed companies like Hewlett-Packard and Tandy to build compatible PCs without the legal risks. This pivotal product propelled the company's growth, leading to an Initial Public Offering (IPO) in June 1988. The IPO was a success, but the company faced challenges with market consolidation and less successful ventures into other software markets, causing its stock price to drop significantly by late 1989. Phoenix refocused on its core BIOS business and went through several cycles of acquisitions and expansions, including the key acquisition of Award Software in 1998. The company continued to be a major player in the firmware space, developing UEFI firmware for major OEMs. In August 2010, Phoenix Technologies was acquired by Marlin Equity Partners, a private investment firm, in a transaction that took the company private. More recently, in 2021, the company was acquired again by Santera Limited, with plans to increase investment in firmware security.