Founded by three American businessmen in Hawaii, Sega eventually began as "Service Games", selling slot machines and jukeboxes to military personal on the island. After dissolving and remerging with the arcade machine import company Rosen Enterprises, Sega became the official company name in 1965 with David Rosen as its CEO. Despite still mainly making jukeboxes at this time, the company started to fully invest in its gaming side after the their hit electro-mechanical arcade game 'Periscope" came out in 1965. Sega would soon be sold to a company named Gulf and Western Industries, which established subsidiaries in Japan, Spain, New York, and California, all under the Sega name. Despite not producing many games of its own, Sega was a very profitable importer and distributor of games during this period due to having a foothold in both the Japanese and American gaming markets.