network software developer Waterloo Microsystems Inc of Waterloo, Ontario and belatedly entered the operating system (OS) market in June 1991 with LANstep, a network OS for small offices, but this was subsequently abandoned in 1994 in the face of stiff competition particularly from Novell NetWare. An effort was started to move into the market for ADSL and cable modems, but this was a multi-year effort during a period when USR increasingly took over what remained of the high-end modem market. They entered Chapter 11 protection in November 1994, exiting in October 1995 as Hayes Corp. after selling 49% of the company to Nortel and a Singapore-based venture capital firm. In 1997 they merged with Access Beyond, a builder of ISP rack-mount modems and terminal servers, and changed the company name again, this time to Hayes Communications. The merger was primarily a way to take the company public. The stock started crashing over the next year, from around US$12 in early 1998 to pennies in October, when they once again filed for Chapter 11 protection. No new funding could be found, and in 1999 the company assets were liquidated. The brand name was purchased and revived by onetime rival Zoom Telephonics in July 1999. Zoom continues to use the Hayes name on some of their products. See also Popcom, an early and popular competitor to the Hayes Smartmodem, with which it was partially compatible Notes References Citations Bibliography External links Hayes Photo Album Hayes Advertising The Rise and Fall of the Modem King History of Hayes Corporation American companies established in 1977 American companies disestablished in 1999 Companies that filed for Chapter 11 bankruptcy in 1994 Companies that filed for Chapter 11 bankruptcy in 1998 Computer companies established in 1977 Computer companies disestablished in 1999 Defunct computer companies of the United States Defunct computer hardware companies Electronics companies established in 1977 Electronics companies disestablished in 1999 Manufacturing companies established in 1977 Manufacturing companies disestablished in 1999 Modems Telecommunications equipment vendors