Derived from Houston, Canion graduated from the University of Houston in 1966 and 1968 with a Bachelor's and Master's degree in electrical engineering with an emphasis on computer science.
Before co-founding Compaq Canion, Harris, and Murto was at Texas Instruments senior managers. The three founders received support from venture capitalist Benjamin M. Rosen, who became chairman of the board of Compaq. During the period Canion as CEO of Compaq, the company set a record for the largest first-year sales in the history of American business and reached the Fortune 500 and $ 1 billion revenue mark faster than any other company in history In 1991, Canion was dismissed by Compaq's chairman, Benjamin M. Rosen. In 1992, Canion founded Insource Technology Group with Ronald L.
Fischer and served as chairman until September 2006. In 1999, he led the initial investment round for Questia Media, Inc., which provides online research libraries. He became chairman of the board and then help the company raise $ 150 million. He is a member of the Board of Directors of AMVESCAP, BlueArc, and Young Life, and HealthLink, is Director Emeritus of the Houston Technology Center, and is a member of the Advisory Board for Partners Sternhill.
