Monotype Imaging Holdings, Inc. (NASDAQ: TYPE) is a Delaware corporation based in Woburn, Massachusetts. It specialises in digital typesetting and typeface design as well as text and imaging solutions for use with consumer electronics devices. Monotype Imaging Holdings and its predecessors and subsidiaries have been responsible for many developments in printing technology—in particular the Monotype machine, which was the first fully mechanical typesetter, and the Linotype machine—and the design and production of typefaces in the 19th and 20th centuries. Monotype developed many of the most widely used typeface designs, including Times New Roman, Gill Sans, Arial, Bembo and Albertus. Monotype has carried out a series of acquisitions from 2000 onwards of companies such as Linotype GmbH, International Typeface Corporation, Bitstream Inc. and FontShop. This has gained it the rights to many further widely known designs, including Helvetica, ITC Franklin Gothic, Optima, Avant Garde, Palatino and FF DIN. It also owns the MyFonts online retailer used by many independent font design studios. The Lanston Monotype Machine Company was founded by Tolbert Lanston in Philadelphia, Pennsylvania, in 1887. Lanston had a patented mechanical method of punching out metal types from cold strips of metal which were set (hence typesetting) into a matrix for the printing press. In 1896 Lanston patented the first hot metal typesetting machine and Monotype issued Modern Condensed, its first typeface. The licenses for the Lanston type library have been acquired by P22, a digital type foundry based in Buffalo, New York.