Feeds

Pirate Bay sells out to Swedish software firm for $7.7m

Plans biz model that compensates copyright owners

Security for virtualized datacentres

Global Gaming Factory X AB (GGF) has agreed to buy BitTorrent tracker site The Pirate Bay for $7.7m (60m Swedish Crowns), according to a statement on the company's website.

The Swedish software outfit confirmed the acquisition this morning. Under the deal GGF has also bought file sharing tech firm Peerialism.

"We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site", said the company's CEO Hans Pandeya.

GGF will take control of the site once the transaction completes, which is expected to happen next month.

"In order to live on, The Pirate Bay requires a new business model, which satisfies the requirements and needs of all parties, content providers, broadband operators, end users, and the judiciary.

"Content creators and providers need to control their content and get paid for it. File sharers need faster downloads and better quality," said Pandeya.

The Pirate Bay also confirmed the buyout this morning in a blog post on its website.

"We've been working on this project for many years. It's time to invite more people into the project, in a way that is secure and safe for everybody. We need that, or the site will die. And letting TPB die is the last thing that is allowed to happen!", it said.

The co-founders of The Pirate Bay were fined $3.6m in the recent court case. Meaning, on the face of it, they stand to make a profit. Not that they were ever in it for the money.

Meanwhile, key players in the trial against The Pirate Bay have started to give their first reactions to the news.

"We don't know the details and there are many questions to ask about how this will work in practice but we would be delighted if this resulted in The Pirate Bay turning into a legitimate licensed service," the International Federation of the Phonographic Industry's CEO and chairman John Kennedy told El Reg. ®

Internet Security Threat Report 2014

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple's iPhone 6 first-day sales are MEANINGLESS, mutters analyst
Big weekend queues only represent fruity firm's supply
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Bill Gates, drugs and the internet: Top 10 Larry Ellison quotes
'I certainly never expected to become rich ... this is surreal'
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
EMC, HP blockbuster 'merger' shocker comes a cropper
Stand down, FTC... you can put your feet up for a bit
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.