Global Gaming Factory X buys file-sharing site The Pirate Bay, promising that copyright holders will get paid

The Swedish software firm, Global Gaming Factory X, has bought the file-sharing site The Pirate Bay for almost £4.7m.

GCF CEO Hans Pandeya said that to continue, The Pirate Bay would have to develop a new business model. "We would like to introduce models which entail that content providers and copyright owners get paid."

In April, the founders of The Pirate Bay were sentenced to one year in jail and fined £2.4m.

Global Gaming Factory also acquired Peerialism, a "next-generation file-sharing" company which started with research at the KTH Royal
Institute of Technology and SICS, Swedish Institute of Computer Science.