Twenty years ago, Apple announced the creation of a subsidiary to run the Newton program:
The new company, to be named at a later date, will provide customers with market-driven products and technologies, based on the award-winning Newton operating system, in conjunction with its licensees, value-added resellers, and systems integrators.
The press release is complete with a quote from Dr. Gilbert F. Amelio, Apple’s Chairman and CEO:
Over the past year, we have seen the Newton Systems Group launch compelling products based on the Newton operating system. We believe that the time is right to establish the group as a focused entity. This decision allows the new subsidiary to pursue its business and create the marketing and operating strategies it needs to succeed.