File-sharing pioneer BitTorrent Inc. has been sold to Justin Sun, a blockchain entrepreneur best known for the Tron platform and its TRX cryptocurrency. The acquisition closed last week and staff has been notified of the deal, Variety has learned.
Company representatives and Sun didn’t respond to repeated requests for comment. Word about a possible acquisition of BitTorrent first got out last month, when TorrentFreak reported that Sun was pursuing the company.
Sun first started talking to BitTorrent in September of last year, and signed a letter of intent to acquire it in January. The deal was briefly held up when BitTorrent started talking to additional bidders, which led to Sun filing for a temporary restraining order, arguing that BitTorrent agreed to not pursue any other offers.
However, Sun ultimately dropped its lawsuit, and proceeded to register a company called Rainberry Acquisition Inc. Coincidentally, BitTorrent had renamed its corporate entity to Rainberry Inc. at the beginning of last year. Last week, Sun’s Rainberry Acquisition filed a change of status with the California Secretary of State due to a merger.
Rainberry Inc., the company that owns BitTorrent, also filed for a merger on the very same day, strongly suggesting that the two companies had merged. Variety has now learned that Sun has indeed acquired BitTorrent, with BitTorrent management informing staff about the deal last week. Read more from variety.com…
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