Shockley Semiconductor Laboratory, later known as Shockley Transistor Corporation, was a pioneering semiconductor developer founded by William Shockley, and funded by Beckman Instruments, Inc., in 1955. It was the first high technology company, in what came to be known as Silicon Valley, to work on silicon-based semiconductor devices.
In 1957, the eight leading scientists resigned, and became the core of what would later become Fairchild Semiconductor. Shockley Semiconductor never recovered from this departure;it was purchased by Clevite in 1960, then sold to ITT in 1968, and shortly after, officially closed