BitTorrent, the software company that created one of the most popular file-sharing programs, has become a part of the larger blockchain corporation, Tron. Tron reportedly paid $126 million for the software firm that has been in existence since 2004 and boasts 100 million users of its signature services, including the BitTorrent program and BitTorrent Now. The software will continue to be maintained, spokespeople said, saying that it will operate out of Tron’s offices in San Francisco.
BitTorrent is one of the leaders in decentralized file-sharing, a matter that could be of great interest to blockchain developers. Blockchain is the technology that has enabled the development of bitcoin and other forms of cryptocurrencies. Representing a high degree of security, blockchain technology also represents a further advance in peer-to-peer information sharing. Therefore, there could be a great deal of mutual interest in the further development of software technologies between BitTorrent and a blockchain company. The transaction could enable future file-sharing technologies that combine the best of both systems.
The acquisition followed a number of reports that BitTorrent was on the market. BitTorrent became the leading name in file sharing and peer-to-peer technology after the first phase of programs, like Napster, faced legal problems and other concerns. The software is most frequently used to share video and music files, and the company assured its customers that it has no plans to become a cryptocurrency mining enterprise or shift its focus away from file-sharing.
Many companies find a new way to expand the depth and scope of their businesses by opting for friendly acquisitions of other developed firms. A business law attorney can work with a company considering purchasing another firm to ensure that the transaction is fully researched and that the agreement contains favorable term.