TRON founder Justin Sun is in the process of acquiring BitTorrent Inc., the operator of the popular uTorrent client, whose user base is over 100 million people. This is reported by TorrentFreak.
Justin Sun himself declined to comment on the probably deal, however, representatives of BitTorrent confirmed his interest, noting that the process of selling the company has not yet been completed.
As the TorrentFreak notes, despite the large number of users, BitTorrent, operating at the end of last year under the name Rainberry, has failed to justify the hopes of investors, failing to turn into a major technology company.
Previously, Sun filed a lawsuit against BitTorrent Inc.because of the fact that the company violated the condition of inadmissibility of negotiating a purchase with other companies, stipulated in the contract of intent, which was signed in January. After signing the contract, the BitTorrent Inc. said that they had received three “superior” bids from other companies with which they had communicated.
Sun’s request to suspend the negotiations with other companies was rejected by the court. The period of granting exclusive rights to purchase BitTorrent Inc. expired at the end of February. However, in California, Justin Sun had registered a holding company called “Rainberry Acquisition.”
We recall, the cryptocurrency Tron (TRX) is one of the ten largest digital assets ranked ninth on Coinmarketcap with an estimated market cap of $4.79 billion.
TRON plans to launch its main net in the coming days. As TorrentFreak notes, the intention of the project to “decentralize the web” using methods used by torrent clients, which is directly mentioned in white paper TRON, is consistent with the desire of its founder to purchase BitTorrent Inc.