What Happened on July 21st

In 1969, Scientific Data Systems (SDS) merged with Xerox in a stock-swap deal worth approximately $930 million. The merger allowed Xerox to rebrand SDS's Sigma series of computers as Xerox Data Systems (XDS) machines, but they failed to have a market impact against competitors like IBM and sold the rights to build Sigma computers to Honeywell. Xerox lost $264 million over the five years they produced mainframes.