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BitTorrent Confirms It’s Been Acquired by Blockchain Startup Tron

Longtime executive and recent CEO Rogelio Choy left the company just 6 months after its acquisition by entrepreneur Justin Sun. Coincidentally, Choy's departure comes just as is doubling down on tech: The company announced Thursday that it is adding a crypto-currency to its popular uTorrent client.

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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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