From http://digg.com/tech_news/The_Pirate_Bay_Sold_To_Software_Co... :

Something is very fishy here. I live in Sweden and I checked out this company.

Global Gaming Factory X AB (Ltd, Co.) never registered for "F-skatt", which is a basic permit needed for companies in Sweden to operate under corporate tax laws instead of private laws. Not having this permit usually means that it's a company 1) run under a mother company or 2) that isn't active.

Furthermore, their website consists of this press release and NOTHING ELSE. Their turnover has not gone over $ 750,000 any of the past two years and their total loss for that same time is approx. - $ 2,677,000.

I think this is just TPB playing legal games.

Hmm, I just checked. Their website is there, it's just that the press release was important enough to serve as splash screen.

See, e.g., http://www.globalgamingfactory.com/Organisation.html

Or maybe their 'developing' wasn't going so well...

Perhaps - though their ste (http://www.peerialism.se) is a bit blank initially there IS some reasonable stuff buried in the pages.

That said from what I can see they seem to be selling off their technology in the very recent past so... maybe a bit of both camps?