In a post on their blog, BitTorrent confirmed the acquisition (reportedly worth $140million) that has been in the news for some weeks – but until yesterday was unconfirmed by the company itself – commenting:
We are excited to announce that TRON has officially closed its acquisition of BitTorrent… 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 division will provide robust support for TRON’s global business development and partnerships, while pursuing its vision for the world’s largest decentralized ecosystem.
Adding that the company will “continue to provide high quality services,” the company explained on Twitter that as a pioneer of decentralisation, they are looking forward to building the “decentralized internet:”
It's official. BitTorrent is now part of #TRON. We pioneered the world's largest decentralized p2p protocol, now we're joining forces with TRON to build the future of the decentralized internet. Read more at https://t.co/ZoCPl5c5wS. @Tronfoundation @justinsuntron pic.twitter.com/EI3xP8Gdz2
— BitTorrent Inc. (@BitTorrent) July 24, 2018
With over 100 million active users of µTorrent, the BitTorrent Play app and other desktop clients, the acquisition for TRON is a significant milestone for the company – following the launch of its mainnet on May 31st.
The price of Tron’s TRX token, however, seems to have dropped substantially since the announcement of the BitTorrent acquisition – which saw the token surge over 18%:
With founder and CEO Justin Sun last month mentioning a “secret project” to be announced at the end of July, TRX investors will be playing close attention to whether the news will push the price out of its downward trend.