The Pirate Bay torrent tracker failed to be purchased

 On Wednesday Global Gaming Factory (GGF) was due to come with the required 100 million Swedish kronor (US$14.3 million) to complete the deal with Peerialism, whose P-to-P (peer-to-peer) technology was supposed to be a key component of the new Pirate Bay's infrastructure. A month ago GCF announced that its shareholders had agreed to buy The Pirate Bay.

Since the time when GGF’s shareholders agreed to acquire the world’s largest BitTorrent tracker the company had a month to bring the proposed $7.8 million, half of which would be paid in shares.

Lately a number of anonymous investors decided to pull out of the deal. The company was facing a challenge and in order to get required money GGF’s shareholders – including the CEO who holds more than half of the shares – decided to finance the acquisition themselves. But the deal never occurred as the deadline was passed. There was no news release advising of the successful acquisition.

Ljungberg said he was not surprised by the outcome. In view of GGF's financial issues Peerialism was ready to that the deal would not happen.

To crown it all on Thursday the Swedish Enforcement Authority said it has decided to freeze some of the assetsof GGF CEO Hans Pandeya. The agency claims it had enough reasons to freeze assets as GGF's former CTO Johan Sellström claims Pandeya owes him about 2.5 million Swedish kronor plus interest.