November 18, 2020 | AtoZ Markets – Ethereum ecosystem company ConsenSys has acquired Truffle Suite startup. The financial terms of the deal were, however, not disclosed.
Today, @trufflesuite joined ConsenSys! With more than 8.5 million downloads, Truffle has long been an ecosystem favorite for new and experienced developers seeking the tools to expedite the smart contract and front end app development process. https://t.co/jyzaKXD6nN— ConsenSys (@Consensys) November 17, 2020
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.
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."
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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