Everex ("Ever for Excellence!") is a defunct American manufacturer of desktop and notebook personal computers. It was established in 1983 and headquartered in Fremont, California. The company was founded by Steve Hui, John Lee and Wayne Cheung. In 1988, Everex was the leader in tape backup sales with half of the world market. On January 5, 1993 the company filed for bankruptcy and was purchased by Formosa Plastics Group, hence becoming part of a multinational conglomerate alongside companies like First International Computer, the world's leading motherboard manufacturer. On December 29, 2006 Everex Systems, Inc filed a voluntary petition for liquidation under Chapter 7, and in June 2008 NewMarket Technology has taken control of Everex.