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Gateway sells Amiga line
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December 31, 1999: 10:08 a.m. ET
Amino Development buys Amiga PC trademarks, computer systems
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NEW YORK (CNNfn) - Personal computer maker Gateway Inc. signed a deal to sell its Amiga trademarks and computer systems to closely held Amino Development Corp., the companies said on Friday.
Terms of the deal were not disclosed.
The transaction is effective immediately and includes the transfer of all Internet domain names related to Amiga held by Gateway. Amiga patents will continue to be held by Gateway, which it gained when it acquired Amiga in 1997.
Gateway (GTW) senior vice president Peter Ashkin said in a statement the company elected to sell the Amiga name after deciding to wrap Amiga's software engineering function into Gateway's product development systems.
"Amiga, as a personal computer brand, has a loyal following of fans around the world,” Ashkin said. "Under Gateway’s wing, Amiga morphed into a software development company working on a new Internet appliance operating environment software. Now that we’re bringing that development into work into Gateway product development, it made sense to find a buyer for Amiga.”
San Diego-based Gateway, which acquired the rights to Amiga's technology in 1997, had been planning to revive the brand, prominent in the mid-1980s, for so-called information appliances and PCs.
On Friday morning, Gateway's shares rose 5/16 to 70-1/16.
--from staff and wire reports 
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Gateway
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