Sphere, Inc. was formed when Nexa Corporation merged with Spectrum Holobyte in 1987. Both companies were listed as divisions of Sphere, Inc. until late 1991.
Sphere, Inc. was 89% owned by Robert Maxwell, the UK media baron. When Maxwell died in November 1991 (presumed to have fallen overboard from his luxury yacht), chaos ensued for all of the Maxwell companies, including Sphere.
Gilman Louie, who founded Nexa Corporation, kept the company afloat after the Maxwell turmoil and changed the name to Spectrum Holobyte in September 1992.