Desperate to Sell: BitTorrent Approached NEO, EOS and Others Before TRON Acquisition
TRON (TRX) made headlines when it acquired BitTorrent, a file-sharing communications protocol based on a peer-to-peer network, back in June. While the acquisition of a decades-old company by an upstart blockchain project is notable, the bigger story is what happened behind the scenes.
According to a recent report by CoinDesk, multiple other blockchain companies had been approached by BitTorrent for a potential acquisition, including NEO (NEO), Icon (ICX), Protocol Labs, the developers of Filecoin and Block.one, the creator of the EOS protocol. In total, there were six parties in negotiations around the acquisition of BitTorrent, but only three went on to make offers.
Previous reports indicated that Neo Global Capital, the venture capital firm associated with the NEO project, had floated an offer that was $50 million higher than the TRON offer, but that deal ultimately fell through for undisclosed reasons.
When BitTorrent approached Block.one, the company which recently raised $4 billion reportedly responded with zero interest. Block.one CEO Brendan Blumer told CoinDesk in a statement, “They approached us and solicited the organization, but we were not interested.”
Similarly, Icon and Protocol Labs failed to make an actual bid, citing concerns over the usage of the BitTorrent protocol causing copyright infringement issues.
Despite the company’s seemingly successful integration into TRON, there have been rumors in recent weeks that the recent acquisition of BitTorrent by TRON has caused multiple top employees to leave the company. However, both TRON and BitTorrent have since responded to refute the claims.
BitTorrent is currently an acting TRON Super Representative and recently launched the uTorrent Web, a new browser client.
Photo: Francisco Daum / Flickr
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