The IBM Personal Computer (model 5150), often referred to as the IBM PC, is the first microcomputer released in the IBM PC model line and the basis for the IBM PC compatible de facto standard. Released on August 12, 1981, it was created by a team of engineers and designers at International Business Machines (IBM), directed by William C. Lowe and Philip Don Estridge in Boca Raton, Florida. Powered by an x86-architecture Intel 8088 processor, the machine was based on open architecture and third-party peripherals.