This Italian company was originally founded in 1908 and introduced their first portable in 1937. Olivetti was noted for its ability to combine functionality with style while providing the features of a full size machine without the price. The Olivetti Lettera 22 opened the market on portables for Olivetti. Olivetti purchased the Underwood Typewriter Company in 1959. In October 1963, Olivetti totally merged with Underwood into a newly formed Olivetti-Underwood Corporation. In 1964, Olivetti completely redesigned their portable line introducing the Lettera 32 which incorporated sleek design lines and modern standards of construction. The mechanicals moved smoothly and accurately with typed characters being bright, true and aligned. Over the years, Olivetti continued to redesign the look and color of their line with the most notable series being the Olivetti Valentine, in red of course.