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Swedish software firm buys Pirate Bay

Swedish software firm buys Pirate Bay

A small Swedish software firm announced Tuesday it has purchased The Pirate Bay, the popular filesharing Web site, for 60 million kronor ($7.8 million).
Global Gaming Factory X said the deal would include rights to use the Pirate Bay domain name and accompanying Web sites. The acquisition is expected to be completed in August, the firm said.
The Pirate Bay is one of the world's largest filesharing venues with more than 20 million users worldwide. In April, four men connected with the site were sentenced to one-year prison sentences for violations of copyright law.
A Swedish court found that the four had helped millions of people download copyright-protected material such as films, music and computer games.
While The Pirate Bay doesn't host copyright-protected material, it directs users to content such as films, music and computer games through so-called torrent files.
Global Gaming Factory X said it intended to launch a new business model that will make it possible to compensate both content operators and copyright owners.
"The Pirate Bay is a site which is counted among the 100 most visited Internet sites in the world. To be able to continue, however, The Pirate Bay needs a new business model that satisfies the needs and conditions of all parties," GGF CEO Hans Pandeya said in a statement.
He added that filesharers should be able "to download faster and with better quality."
Global Gaming Factory X also said it had purchased Peeralism _ a software developer that has created a new filesharing technology _ for 100 million kronor ($13 million).
The firm has been listed on the small Swedish trading facility Aktietorget since 2006 and operates a range of Internet cafes and gaming venues.


Updated : 2021-05-11 17:41 GMT+08:00