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We believe that Azure Solutions will allow us to continue to enhance our existing creative solutions, prioritizing ad creatives with predicted higher return on investment. As noted in prior quarters, one of our key partners transitioned to new bidding technology and we completed the transition in early May. Thank you so much.
We have the plan, Frontier acquisition. It's going to take time until that's come into fruition because it's hanging on another acquisition. We will, as we have closed the Frontier acquisition, have more than 30 million passings -- fiber passing. And that includes investments in our network infrastructure.
This helps dilute fixed costs, particularly as we have excess logistics capacity while capital intensity is very low, which implies a very healthy return on invested capital. So firstly, I would say that the main news in the sector was the potential merger between BHP and Anglo American. It could be interesting for us?
“Despite significant declines in global equity and fixed income markets during our fiscal year, our investment portfolio remained resilient, delivering stable returns while outperforming major indexes.” The positive fiscal-year results reflect returns on investments in infrastructure and certain U.S. and the U.S.
RITHOLTZ: Was this a distressed acquisition or — RIEDER: It was. RITHOLTZ: You hit the bid before — RIEDER: Well, yes. But then over the years, you know, through an acquisition or their merger with Merrill Lynch Investment Management, all of a sudden became a big equity house. RIEDER: Yeah.
During this conference call, management will make forward-looking statements based on current expectations and assumptions, including statements regarding our business outlook and prospects and our recently complete acquisition of Teads. On February 3rd, we closed our acquisition of Teads. With that, let me turn the call over to David.
This is just one of the reasons why we recommend you partner with an M&A (mergers and acquisitions) advisor to sell your business. Theyll pay a premium price when there are synergies to be gained by an acquisition. Synergy Potential Identify synergies and offer a competitive acquisition price.
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