Wang Laboratories was created in 1951.

yes

An Wang was known as the pioneer of the computer industry. Wang was responsible for developing Wang Laboratories in Lowell, Mass. Wang was also credited with holding over 23 honorary degrees and 40 patents.

I believe 802.7 was marketed by Wang Laboratories as WANGNET. Once Wang passed through bankruptcy the technology, and the interest in it, went the way of the mini-computer.

After seven years with Big Blue he decided to move on to Wang Laboratories.