BitTorrent has confirmed it has been acquired by TRON, the blockchain startup founded by Justin Sun.
“We pioneered the world’s largest decentralised peer-to-peer protocol, now we’re joining forces with TRON to build the future of the decentralised internet,” BitTorrent said in a statement.
Sun said that through the acquisition, BitTorrent and TRON will combine forces – with the TRON team in the United States merging with the BitTorrent team.
“BitTorrent possesses world-class technical talent and solid experience in decentralised protocol technology. Combining the robust capabilities of the two teams will take the technology behind the TRON ecosystem to a whole new level,” said Sun.
“From this day on, BitTorrent, whose software has been installed on billions of user devices, will become part of the TRON ecosystem, making TRON the largest decentralised Internet ecosystem in the world.”
Neither organisation confirmed the value of the deal, but TechCrunch reported that TRON paid $126 million for BitTorrent.
An earlier report stated the total value of the deal was around $140 million.