BitTorrent is selling for $140M to Justin Sun and his blockchain startup Tron

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BitTorrent

Ingrid Lunden | TechCrunch Fundings


BitTorrent, an early mover (and currently the largest player) in decentralised computing architecture to distribute and store data, is being sold for $140 million in cash to Justin Sun and his blockchain media startup Tron, according to multiple sources close to the deal, who spoke to TechCrunch.

Variety earlier this week reported that a sale of the company to Sun closed last week, without naming a price, following rumors that circulated for at least a month that the two were in negotiations.

Shareholders have now been sent the paperwork to sign off on the deal, and that has detailed the $140 million price — which includes both a cash payment from Sun as well as cash in the company being distributed to shareholders alongside proceeds.

Some are, we understand, still disputing the terms, as more than one person claims to have made the introduction between Sun and BitTorrent. A source says it’s unlikely that the disputes will actually kill the acquisition, given how long BitTorrent has been looking for a buyer.

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Source: BitTorrent is selling for $140M to Justin Sun and his blockchain startup Tron

 



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