IMagicTV, a New Brunswick based software company incorporated in January 1998, forged a new niche in the overall telecom communications software market by offering service providers an open and flexible platform for creating, delivering and managing digital television and rich media services over broadband DSL networks. Its software enabled services such as digital TV, pay-per-view and video-on-demand, and featured field-proven provisioning tools for managing content, subscribers and client devices, easily and efficiently. In 1999 Whitecap led an equity financing of $10 million to support iMagicTV’s aggressive growth plans and contributed to a pre-IPO financing in 2000. In November 2000 iMagicTV became public on NASDAQ and TSE. In April 2003 Alcatel (NYSE: ALA) acquired 100% of iMagicTV and iMagicTV now operates under the Alcatel name.