ReadWriteWeb

According to their blog and a recent BusinessWire release, controversial Swedish bit torrent tracker the Pirate Bay, is being acquired by Global Gaming Factory X AB for roughly $7.8 million in cash and shares (or $60 million SEK).

On the blog, the group hopes to alleviate concerns by saying:
"If the new owners screw around with the site, nobody will keep using it. That's the biggest insurance one can have that the site will be run in the way that we all want it to. And - you can now not only share files, but shares, with people. Everybody can indeed be the owner of The Pirate Bay now. That's awesome and will take the heat off us."