×
You will be redirected back to your article in seconds

BitTorrent Confirms It’s Been Acquired by Blockchain Startup Tron

File sharing veteran BitTorrent has finally confirmed that it has a new owner: “We are excited to announce that Tron has officially closed its acquisition of BitTorrent,” the company said in a blog post Tuesday.

“BitTorrent will continue operating from Tron’s new San Francisco location, which is now the center of operations for the company’s global market expansion,” the post continues. “The division will provide robust support for Tron’s global business development and partnerships, while pursuing its vision for the world’s largest decentralized ecosystem.”

Tron is a Blockchain startup founded by the Chinese entrepreneur Justin Jun. The company has issued it own crypto-currency, dubbed TRX, which had a market cap of $2.4 billion at the time of writing.

Little is known about Sun’s plans for BitTorrent, but the file sharing company did put out an assurance to its users in June that it wouldn’t sneak any code to do Blockchain calculations into its apps. “BitTorrent has no plans to change what we do or charge for the services we provide,” that statement read. “We have no plans to enable mining of cryptocurrency now or in the future.”

BitTorrent and Tron didn’t release any further details about the acquisition Tuesday, but documents filed with the California Secretary of State suggest that Sun paid close to $126 million in cash for the company.

Variety was first to confirm the acquisition of BitTorrent in early June.

More Digital

  • Tidal Launches $1 Million Program to

    Tidal Launches Unplugged, $1 Million Program to Support Emerging Musicians

    Tidal, the streaming platform headed by Jay-Z, today announced the launch of a million-dollar artist grant program intended to support emerging musicians. Called Tidal Unplugged and funded by a donation from venture capitalists and philanthropists Mark Lampert and Robert Nelsen, the program will kick off March 1 in Detroit, where Lampert’s grandfather started his musical career. [...]

  • Bird Box

    Netflix Original Content Outscores HBO, Hulu, Amazon on Customer-Satisfaction Survey

    Netflix is spending more on content than rivals by billions — and its customers continue to give Netflix’s original programming higher marks than the rest of the field. As of Feb. 7, 2019, Netflix customers gave the streamer’s original content a score of 81 out of 100, according to the American Customer Satisfaction Index. That’s [...]

  • NBC News Retools 'Today' Mobile App,

    NBC News Retools 'Today' Mobile App, Readies 7 New Digital Series

    NBC News will continue its efforts to augment its flagship “Today” with digital-video series and other mobile extensions, the latest signal that TV’s morning-news wars are also being waged online. NBC News Digital is set to add seven new digital-video series featuring “Today” hosts and contributors to a larger roster of online programming built around [...]

  • Kelly Abcarian - Nielsen

    Nielsen Forms Addressable TV Ad Group After Buying Sorenson Media's Assets for $11.25 Million

    Nielsen thinks it has the pieces in place to finally drive up the scale of addressable TV advertising, targeted based on a television household’s profile the way internet ads have been served for years. The media-measurement firm has formed Nielsen Advanced Video Advertising, a new group focusing on developing addressable advertising initially for internet-connected smart [...]

  • Hooq Sets up Filmmakers Guild For

    Hooq Sets up Filmmakers Guild For Second Year of Pilots

    Asian video streaming platform, Hooq is to air five pilot episodes that have emerged from its Filmmakers Guild. The most successful is guaranteed to be produced as a full series and streamed on the platform. Five original selected screenplays were each awarded $30,000 to be made as pilots, which now air from March 1. The [...]

  • Fortnite Battle Royale

    Epic Pulls 'Fortnite' Ads From YouTube After Child Predator Controversy

    Epic Games is no longer running “Fortnite” pre-roll ads on YouTube after it was discovered they were playing on videos alleged predators used to exploit children, according to The Verge. The developer has paused all of its pre-roll advertising, which plays before a video starts on the streaming platform, a spokesperson said. It also reached [...]

  • New Video Shows Off Vive Cosmos

    New Video Shows Off Vive Cosmos VR Controllers

    There’s still much to be learned about HTC’s Vive Cosmos — like release date, specs, and price — but Wednesday the company released a short teaser video giving a slightly better glimpse of the controllers in action. The new controllers look a bit like rival VR headset Oculus Rift’s Touch controller, though reversed in some [...]

More From Our Brands

Access exclusive content