Stratus Technologies, Inc. is a major producer of fault tolerant computer servers and software. The company was founded in 1980 as Stratus Computer, Inc. in Natick, Massachusetts, and adopted its present name in 1999. The current CEO and president is Dave Laurello. Stratus Technologies, Inc. is a privately held company, owned solely by Siris Capital Group. The parent company, Stratus Technologies Bermuda Holdings, Ltd., is incorporated in Bermuda. Stratus Computer was a Marlborough, Massachusetts, based producer of fault tolerant minicomputers. It competed with computers from Tandem Computers and to a lesser extent Digital Equipment Corporation's VAX. Starting in 1983, its computers were resold worldwide by Olivetti under the CPS/32 ("Continuous Processing System") brand. Then, from 1985 to 1993, its computers were resold by IBM under the IBM System/88 brand. The company is now based in Maynard, Massachusetts. History Stratus shipped its first computer in February 1982, 21 months after its founding. The customer was the West Lynn Creamery, located in nearby Lynn, Massachusetts. The company's traditional markets have been financial services companies such as banks and stock exchanges. Beginning in the 1990s, the company moved into the telecommunications industry, particularly in the area of network management and custom services, with the result that its telecommunications revenues surpassed those from enterprise computing. This led to a buyout of the company by Ascend Communications in 1998 (later acquired by Lucent Technologies). The enterprise server portion of the business was of little interest to Ascend and that portion was spun off in a management buyout in 1999, with funding from international investment firm, Investcorp. The company was named Stratus Technologies, Inc. In the second quarter of 2002, Lucent sold the telecom product lines that originally came from Stratus to Platinum Equity, a buyout firm based in Los Angeles. That unit was eventually named Cemprus LLC. Stratus purchased Cemprus in 2003. It is now a wholly owned subsidiary of Stratus. This acquisition gave Stratus the SS7 signaling software for phone networks and intelligent gateway software so that traditional and IP voice equipment are able to communicate. This software can be used to support higher-level telephony applications such as calling-card and toll free phone number services. In 2006, Stratus purchased Emergent Network Solutions of Allen, Texas. Stratus sold off Emergent in 2009, and Emergent is now known as Stratus Telecommunications. The two companies are now separate entities. One is not the parent of the other.