This will definitely be one of the most discussed news items today. The listed gaming company Global Gaming Factory X (GGF) has issued a press statement this morning that they will purchase the website the Pirate Bay and the company Peeralism that “develops peerialistic solutions to transport and store data on the Internet”. According to Svenska Dagbladet, GGF will purchase the Pirate Bay for 60 MSEK, out of at least half in cash, and Peeralism for 100 MSEK, out of which at least half in cash.
Here is the press statement on GGF’s website:
Acquisitions of The Pirate Bay and new file sharing technology, P2P 2.0
– Pave the way for compensation model
The listed software company, Global Gaming Factory X AB (publ) (GGF) acquires The Pirate Bay website, http://www.thepiratebay.org, one of the 100 most visited websites in the world and the technology company Peerialism, that has developed next generation file-sharing technology. Following the completion of the acquisitions, GGF intends to launch new business models that allow compensation to the content providers and copyright owners. The responsibility for, and operation of the site will be taken over by GGF in connection with closing of the transaction, which is scheduled for August 2009.
“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 Hans Pandeya, CEO GGF.
“The Pirate Bay is a site that is among the top 100 most visited Internet sites in the world. However, 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” continues Hans Pandeya.
A press conference will be held in Stockholm at 11.00 CET today and hopefully we will get more information about the acquisition, or find out if it is just a PR stunt. It’s a little hard to believe that this acquisition will actually carried out.
Updated: According to information on Aktietorget, where GGF is listed, the company has a market cap of 140 MSEK (fluctuating between 125 and 150 MSEK this morning).
Update 2: Official comment by TPB: Yes, it’s true.
Tags: pirate bay, p2p, pirate bay, p2p, fildelning. Ping.