MITS (Micro Instumentation and Telemetry Systems) was founded in 1968 in New Mexico, by two men:
Ed ROBERTS then an electrical engineer working in a U.S. Air Force weapons lab in Albuquerque
 and Forrest MIMS
The company was selling mail-order model airplane stuff but
started focusing on Electronic Calculator Kits in 1971
After some time, MITS did encounter serious problem, calculators sales were disappointing,
due to the domination of the low-cost calculator market.
ROBERTS then negotiated a contract with INTEL that gave him a
very interesting price on the 8080 Microchip
In 1973 MITS did develop the ALTAIR: 8800, probably the first MicroComputer kit
After the product was introduced in an electronics magazine called POPULAR ELECTRONICS (jan-1975)
MITS was overwhelmed with orders, hence perspectives were very good again,
it gave even the startshot for Bill GATES and Paul ALLEN by letting them programming a BASIC
for the device, but the MITS selling, logistic strategy and quality control was not very efficient and
 soon ALTAIR clones like the IMSAI did show up.
In may-1977, Ed ROBERTS did sell MITS to a company called PERTEC,
he completed medical school, and set up practice as a small town doctor.