Endeavor, the holding company formerly known as WME-IMG, has acquired streaming technology firm NeuLion for $250 million, the companies announced Monday.

NeuLion powers the video delivery of a wide range of content owners, particularly major sports leagues. Endeavor owns some of those leagues as well, including UFC and Professional Bull Riders as part of an effort to diversify the company beyond the core talent agency business.

“Through our content portfolio, client base, and broader network of rights holders we’ve encountered many different platforms for distributing and monetizing content,” said Ariel Emanuel, CEO, Endeavor in a statement. “NeuLion provides an ideal combination of technology and client services, and we’re excited for the value this brings to our existing partners and the foundation it provides for our future digital growth.”

NeuLion has worked with Endeavor before, having streamed the ballyhooed bout between boxer Floyd Mayweather and UFC champion Conor McGregor last year. Endeavor is shopping TV rights to UFC matches currently parked at Fox Sports, and the company has reportedly explored retaining those rights and going direct to consumer.

“We’re excited by the value delivered to our stockholders through this transaction, and we’re looking forward to the dynamic opportunities that being part of the Endeavor family will provide for both our current and new clients,” said Roy Reichbach, president and CEO, NeuLion, in a statement.

Endeavor will acquire each share of outstanding common stock of NeuLion, which will be held as a private subsidiary, for $0.84. The deal is expected to close in the first quarter of 2018.