WATCH VIDEO: Mitt Romney's complete concession speech, Election Day 2012

Mitt Romney conceded the presidential election to Barack Obama after 1:00 a.m. Wednesday morning.

In his 5-minute speech, Romney thanks his wife, family and the many contributors in the Republican campaign for their efforts and prayers.

He also said Obama has his prayers for a successful next four years. To read his entire speech, click here: goo.gl/xbLd2

To watch his concession speech, click the video below. For mobile users, click here: http://youtu.be/IiQZBgdVn-A

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