ConsenSys Acquires Ethereum Startup Truffle Suite

The Ethereum-focused development and investment company, ConsenSys announced Tuesday that it has acquired the technology and team members of Truffle Suite.

November 18, 2020 | AtoZ MarketsEthereum ecosystem company ConsenSys has acquired Truffle Suite startup. The financial terms of the deal were, however, not disclosed.

ConsenSys acquires Truffle Suite as part of a business restructuring plan

Truffle Suite creates tools for the development of decentralized applications (DApps). Previously, the startup was developed with the support of the ConsenSys incubator, and in April 2019 it managed to attract $ 3 million in funding.

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ConsenSys is positioning the new acquisition as part of a business restructuring plan that began last year.

“The acquisition marks the completion of a strategic restructuring of ConsenSys with the formation of two separate entities and the separation of our core technology business from investment activities,” the company said. "Truffle will now be wholly owned by ConsenSys, a software company that includes Codefi, Diligence, MetaMask, Infura and Quorum."

Read also: Huobi Considers the Acquisition of bitFlyer and Bithumb

ConsenSys previously partnered with Protocol Labs to develop Filecoin, a decentralized storage platform.

We also remind you that ConsenSys will take part in testing the central bank digital currency (CBDC) together with Societe Generale.

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