FREQUENTLY ASKED QUESTIONS
Who is Bitstream?
Bitstream was founded in 1981 as a font foundry and evolved to developing software and applications for the graphic arts and mobile communications industries. Bitstream’s fonts and font technologies enabled device manufacturers and application developers to render the highest-quality text in any language, on any device, at any resolution. Bitstream’s MyFonts brand is one of the world’s leading online providers of fonts to consumers.
Which parts of Bitstream’s business did Monotype Imaging acquire?
Monotype Imaging has acquired Bitstream’s font business, which comprises e-commerce solutions and OEM technologies. Solutions include Bitstream’s popular MyFonts.com website, featuring 89,000 fonts from nearly 900 foundries, and Bitstream’s acclaimed WhatTheFont identification service, in addition to the Bitstream typeface library. OEM assets include Bitstream’s Font Fusion and Bitstream Panorama font rendering and layout technologies, as well as a range of fonts for embedded and mobile environments. Monotype Imaging has also acquired 10 patents, covering areas from OEM technologies to Bitstream’s WhatTheFont application.
Why did Monotype Imaging acquire the font business of Bitstream?
Monotype Imaging’s mission is to be the first place to turn for typefaces, technology and expertise that enable the best user experience and ensure brand integrity regardless of device, platform or language. The addition of Bitstream’s font business is expected to enhance Monotype Imaging’s ability to accelerate growth across its customer base, expand the company’s IP and capture emerging opportunities, particularly in Web font services and Monotype Imaging’s Display Imaging business. In addition, the company believes that its global reach and financial strength combined with Bitstream’s renowned MyFonts website and OEM business now position Monotype Imaging to serve broader markets, while continuing to deliver high-quality experiences on any publishing medium, platform or device.
What is the background that led to the acquisition?
In September of 2010, Bitstream announced that it had hired a financial advisory company to advise Bitstream with respect to business opportunities for enhancing shareholder value. Monotype Imaging’s interest in Bitstream’s font business stemmed from a fundamental passion for type, which is at the center of Monotype Imaging’s expertise. When the opportunity was presented to pursue Bitstream’s font business, Monotype Imaging saw this as natural fit. For example, Bitstream’s approach to serving broad markets by way of new and distinctive typefaces is expected to complement Monotype Imaging’s strength in leveraging its historic, classic type collections and multilingual offering to meet the needs of corporations and brands. Monotype Imaging believes the acquisition will dovetail effectively with the company’s team, technology and culture.