No Surprise Here: Pirate Bay Acquisition Falling Apart

from the and-there-it-goes... dept

Back at the beginning of July we expressed our doubts about GGF's "acquisition" of The Pirate Bay ever actually happening. The quotes from the CEO made very little sense, and he was clearly hedging his language. Some have suggested that the whole thing was just a pump & dump scam (and, in fact, there were early questions about insider trading). As more details came out, the "plan" behind the acquisition just didn't make much sense, and those on the inside started bailing out.

Greg Sandoval's been on the story, and has a few more updates that make the whole deal seem quite unlikely. First, remember how the same day GGF announced a plan to buy the company Peerialism, which would be the key component to making The Pirate Bay function as a legit service? Yeah, well, apparently GGF hasn't actually followed through on that deal at all, and Peerialism notes that GGF hasn't lived up to its contract terms or delivered any of the promised money at all -- and that no development work has been done. Then, this morning, trading in GGF shares was suspended again, as more doubts are being raised about the whole effort. From all this, plenty of people are now starting to realize there's as good chance that the deal itself is never going to happen.

The real question, though, is whether or not it was ever really expected to happen?
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Filed Under: hans pandeya
Companies: ggf, global gaming factory x, the pirate bay


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