The company originated in 1911 as the Computing-Tabulating-Recording Company (CTR) through the consolidation of The Tabulating Machine Company, the International Time Recording Company, the Computing Scale Company and the Bundy Manufacturing Company. CTR was renamed "International Business Machines" in 1924, a name which Thomas J. Watson first used for a CTR Canadian subsidiary. The initialism IBM followed. Securities analysts nicknamed the company Big Blue for its size and common use of the color in products, packaging and its logo.