×
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

  • Lisa Utzschneider - IAS

    IAS Taps Ex-Yahoo Sales Boss Lisa Utzschneider as CEO of Ad-Verification Firm

    Integral Ad Science (IAS), a digital ad verification company, hired Lisa Utzschneider as CEO and board member. Most recently, she was Yahoo’s chief revenue officer, exiting Yahoo with Verizon’s acquisition of the company last year. Utzschneider starts at IAS effective Jan. 7, 2019, replacing president and CEO Scott Knoll, who after eight years in the [...]

  • ‘Bumblebee’ Again Tops Studios’ TV Ad

    ‘Bumblebee’ Again Tops Studios’ TV Ad Spending

    In this week’s edition of the Variety Movie Commercial Tracker, powered by the TV advertising attention analytics company iSpot.tv, Paramount Pictures claims the top spot in spending for the second week in a row with “Bumblebee.” Ads placed for the sci-fi/action film had an estimated media value of $6.31 million through Sunday for 941 national [...]

  • Kathreen Khavari

    Kathreen Khavari Tapped by Refinery29 for 'Embrace' Comedy Pilot

    Refinery29 will begin production in 2019 on “Embrace,” a pilot from writing duo Kathreen Khavari (“Big Little Lies”) and Chuck Neal. “Embrace” will star Khavari as she comes up with an unconventional solution to prevent her Iranian immigrant parents from having to move back to Iran. Refinery29 bills the show, set in Khavari’s hometown of [...]

  • Outlander Season 4

    Starz Available for $5 a Month for Three Months Through the Holidays

    Starz is having an online holiday sale: The premium cable network is selling three months of its online streaming service for $5 per month, down from the regular price of $8.99 per month. The offer is available to new users who sign up until the end of December. Subscribers also get a 7-day free trial, [...]

  • Meg Whitman and Jeffrey Katzenberg Strictly

    Listen: Jeffrey Katzenberg, Meg Whitman Go Long on Short-Form Entertainment

    One is a legend in the media business, the other in the tech world. But together Jeffrey Katzenberg and Meg Whitman are intent on bringing the best of both worlds together for their ambitious new venture: Quibi. On the latest episode of the Variety podcast Strictly Business, the dynamic duo shared their battle plan to [...]

More From Our Brands

Access exclusive content