The developer of the Ethereum layer-2 network Arbitrum, Offchain Labs, has acquired the core development team behind Ethereum Merge.
Announced in an Oct. 13 blog post by Offchain Labs, the deal's financial terms were not disclosed, but it was noted Prysmatic Labs chose to join Offchain Labs "for many reasons," but mainly because of the two companies' alignment in their core beliefs.
Despite the Prysmatic Labs team officially joining Offchain Labs, their "work will continue uninterrupted," and their work in Ethereum node client software will continue to be developed under Offchain's umbrella.
Ex-Prysmatic Labs developer Steve Ellis is officially joining Offchain Labs as a software developer.
"I am excited to be a part of [Offchain] where I will continue to work on software development, but this time under the Offchain umbrella. This gives me a chance to bring my talents and experience to the whole Ethereum community, both current and future".