In August, 1957 Ken Olsen & Harlan Anderson found Digital Equipment Corporation (now its HP) and setup a shop in Old Woollen Mill in Maynard, MA U.S.A

Virtual Memory System (VMS) was conceived in 1976. This was used as an Operating System for Digital's new 32-Bit Virtual memory line of Computers named as Virtual Address eXtensions (VAX). The First VAX Model is 11/780. The principal designers for VMS were Dave Cutler & Dick Hustvedt . VMS Version 1.0 was shipped in 1978. VMS is a 32-bit multitasking, multiprocessing virtual memory Operating System.
VMS & OpenVMS are two names for the same Operating System. VMS was initially available on VAX Systems. When it was ported to the ALPHA Platform, it was renamed as OpenVMS.
OpenVMS V8 was recently released by HP - which incorporates a lot of new technologies. For more information, Visit HP's Site