Swedish software company, Global Gaming Factory X, has acquired the popular file-sharing website Pirate Bay for £4.7 million.
The Swedish firm said that the deal included rights to use the Pirate Bay domain name and other websites.
The world's largest 'Bit Torrent tracker' has more than 20 million users worldwide and has had several brushes with the law over copyright issues.
Global Gaming Factory X said that plans were under way to launch a business model that would benefit both content operators as wells as copyright owners.
Its chief executive Hans Pandeya said: "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."
While the Pirate Bay website does not host any copyrighted content, it provides links for people looking for the material.
In April, a Swedish court handed four men associated with it one-year prison sentences for breaking copyright law on the grounds that they had helped people illegally download music files, films, and video games.
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