I am pleased to inform you that today we completed the acquisition of Imagine Communications, a California-based company specializing in digital video solutions for online providers and TV Everywhere applications. While this acquisition serves to strengthen our end-to-end solutions portfolio, I am more energized by the possibilities it opens for collaboration with our customers as the industry navigates the new multiscreen world.
Many of our content originator customers have been adding services for OTT and TV Everywhere, but have had to do so using inefficient, bifurcated systems for linear and nonlinear services. The integration of Imagine technology into our portfolio will benefit customers of both companies by providing a more seamless, cost-effective solution for supporting traditional linear business, while also leveraging the monetization opportunities of multiscreen.
This is an exciting transaction for us that is representative of our long-term strategic roadmap. I look forward to discussing with you how we can work together to make TV Everywhere a stable and profitable part of your business.