Telenet was the first FCC-licensed public data network in the United States. It was founded by former ARPA IPTO director Larry Roberts as a means of making ARPANET technology public. He had tried to interest AT&T in buying the technology, but the monopoly's reaction was that this was incompatible with their future. Bolt, Beranack and Newman (BBN) provided the financing. It initially used ARPANET technology but changed the host interface to X.25 and the terminal interface to X.29. Telenet designed these protocols and helped standardize them in the CCITT. Telenet was incorporated in 1973 and started operations in 1975. It went public in 1979 and was then sold to GTE.