Phase 5 was 1992 founded as subsidiary company of AS&S by Wolf Dietrich and Gerald Carda, which were the owners of AS&S. Business segment was the development of general Amiga hardware, but mainly accelerator boards, graphics cards and SCSI controllers were brought out.

In 1996, the subsidiary company phase 5 Elektronikfertigungs GmbH was founded, which did the production of all the Phase 5 hardware expansions from that time on.

Phase 5 pressed ahead with new Amiga technology, so they were the first to come up with a

• DMA SCSI controller for the Zorro III bus (Fastlane Z3)
• 68060 accelerator card (Cyberstorm)
• 64 bit graphics card (Cybervision 64)
• PPC solution for A1200 and A4000 (Cyberstorm PPC)

The company filed for insolvency on 2000-02-09 and the liquidation of the company took place on 2000-04-27. DCE bought licenses before liquidation and produced later some of the Phase 5 hardware products under it's own name. The A/Box, a complete computer, was planned but never released.