ConsenSys announces acquisition of dapp toolmaker Truffle Suite
November 17, 2020, 10:03AM EST
1 min read
ConsenSys, the Ethereum-focused development and investment company, announced Tuesday that it has acquired the technology and team members of Truffle Suite.
Truffle Suite is focused on the building of tools for the creation and development of decentralized apps, or dapps. As previously reported, Truffle Suite spun out from ConsenSys in April 2019, drawing some $3 million in outside funding at the time.
In statements, ConsenSys positioned the acquisition — the details of which were not disclosed — as part of a broader corporate restructuring that began last year. ConsenSys has also trimmed its overall headcount, a process that it began in late 2018.
"The acquisition concludes ConsenSys' strategic restructuring to form two separate entities and delineate our core technology business from our investment activities, which we started in February 2020," the company said. "Truffle will now be a wholly-owned product of ConsenSys the software company, which includes Codefi, Diligence, MetaMask, Infura, and Quorum."
We look forward to delivering enterprise grade solutions that enable developers to build and deploy blockchain systems using Ethereum and across multiple blockchains,” Truffle's founder, Tim Coulter, said in a statement.