MGT Capital Investments Inc. (NYSE MKT: MGT) is acquiring technology and assets from Demonsaw LLC, an anonymous file-sharing computer network, and hired Demonsaw’s founder Eric Anderson as chief technology officer. The deal is contingent on the approval of MGT stockholders. Demonsaw LLC members would receive 20 million restricted shares of MGT common stock, or 28 percent of MGT’s common stock.
Demonsaw’s software offers users full control of data and private router services with a decentralized network that protects IP address information. Harrison, New York-based MGT’s business is buying, developing and monetizing intellectual property assets, including social casino and gaming software, fantasy sports wagering software, and online entertainment marketing and rewards software.