A notable event in computer history occurred on a sunny fall day in 1957: the founding of Digital Equipment Corporation by Kenneth H. Olsen in an abandoned woolen mill in Maynard, Massachusetts. He created the minicomputer and developed a company that is the second largest computer company in the world, with annual revenues in excess of $12 billion. Olsen has helped make computer history; in 1986, Fortune magazine featured him on the cover as “the most successful entrepreneur in history”. After leading Digital for 35 years, Olsen retired in 1992.
The minicomputer, or mini, is a versatile special- or general-purpose computer designed so that many people can operate it at the same time. Minis operate in ordinary indoor environments; some require air conditioning while others do not. Minis also can operate in less hospitable places such as on ships and planes and in manufacturing shops. Minis cost more than personal computers, typically $20,000 to $500,000, but they are also more powerful. Up to 200 people can use the minicomputer at the same time.
Like all computers, the minicomputer is designed as a system. There is a system unit containing the CPU and main memory. There are multiple keyboards and monitors which in combination are called a terminal. All system components, including storage devices and printers, can be purchased separately to design a specific system or to upgrade an existing one.
Mini systems are more mobile, easier to set up and install, and more versatile than mainframes. It is common to see a minicomputer system combined with specialized equipment and peripherals and designed to perform a specific task. These are called original equipment manufacturer (OEM) systems, which means a company buys various hardware from original manufacturers, customizes it with hardware add-ons and software tailored to a specific business or task, and markets it all together as a system. OEM systems are used in publishing, brokerage houses, hospitals, manufacturing, and hundreds of other ways.