HP (Hewlett-Packard), perhaps best known for its line of personal computer printers, has also long been a leader in mid-range computer systems. Founded in 1939 by Stanford University grads, William R. Hewlett and David Packard, HP is the original garage start-up. In fact, in 1989, the garage where Bill and Dave (as they were always known within the company) first worked manufacturing audio oscillators was declared a California State Historical Landmark and is considered the birthplace of Silicon Valley. With their corporate headquarters in Palo Alto, California, HP in 1999 was a $40 billion (revenue) multinational organization.
In addition to its highly successful line of printers, HP manufactures the HP 3000, HP 9000, and NetServer computer platforms; scanners, plotters, personal computers, and networking products. It also sells applications and software services. In an effort to break with its well-ingrained engineering past, Carly Fiorina, a former Lucent Technologies executive, was chosen in mid-1999 to lead HP into the 21st century. Besides many its technological achievements, which includes handheld calculators, the first commercially distributed data processing system, LaserJet printers, and a joint collaboration with Intel to produce the Explicitly Parallel Instruction Computing ( EPIC ) architecture, HP is also well known for its particular brand of enlightened corporate management. Known as the HP Way, it is a set of values that has been practiced by HP's management to foster innovation, respect for individuals, and extraordinary value for customers.
In the latter part of 1999, the $8 billion Agilent Technologies was spun off as an independent company focused on the instrumentation, communications, and life sciences markets.