BitTorrent being sold for $140 million – Report

BitTorrent is being sold for $140 million to Justin Sun, the founder of blockchain startup Tron, TechCrunch reported.

According to the report, the paperwork to seal the deal has been sent to shareholders and stipulates the price, which includes a cash payment from Sun, and cash in the company being distributed to shareholders alongside proceeds.

Certain shareholders are disputing the terms, however, but TechCrunch – citing a source – said it is unlikely the dispute will kill the deal.

News on the value of the deal follows a report by Variety that the deal was closed at the start of June.

Following the reports, BitTorrent issued a statement saying it has no plans to change what it does, or start charging for the services it provides.

“We have no plans to enable mining of cryptocurrency now or in the future,” it added.

“We reiterate that we are committed to our hundreds of millions users worldwide and will continue to invest and innovate in the BitTorrent and uTorrent products.”

Now read: Windows Defender flags uTorrent as threat

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BitTorrent being sold for $140 million – Report