Founded as distributor for C-Ltd. products and other Amiga peripherals and software, the company started selling it's own developed memory expansions in 1989.

In the first time, Intelligent Memory has got one CEO, later there were two of them. Wolf Dietrich, known as CEO of Phase 5, worked for this company since 1989.

The business operations have been stopped 1991 and a successor company called Memphis was founded.