Offchain Labs did not disclose the financial terms of the purchase, but it was highlighted that Prysmatic Labs opted to join Offchain Labs for a variety of reasons.
Ethereum (ETH) Merge, has been acquired by Offchain Labs, the developer of the Ethereum layer-2 network Arbitrum.
The financial parameters of the deal were not disclosed in an Oct. 13 blog post by Offchain Labs, but it was noted that Prysmatic Labs opted to join Offchain Labs "for numerous reasons," but mostly because the two companies share core beliefs.
Raul Jordan, co-founder of Prysmatic Labs, stated that the move will create a cohesive team that is stronger than the sum of its parts.
Offchain Labs argues that the future of ETH depends on layer 1 for consensus and data availability, and layer 2 for execution and scalability, and that its acquisition of Prysmatic Labs is a step toward bringing expertise in these two areas together.
Despite the fact that the Prysmatic Labs team has formally joined Offchain Labs, their work on Ethereum node client software will continue to be developed under Offchain's umbrella.
They are still working on putting EIP-4844 data sharding to production and developing Prysm as a completely open-source and neutral consensus client.
The post concludes by hinting at future partnerships between the two teams. “We want to collaborate on various such cooperative efforts that will advance both L1 and L2 development.”
Prysmatic Labs is one of Merge's core technical teams, and it created Prysm, the dominant ETH consensus client that is currently powering Ethereum's proof-of-stake consensus.
Arbitrum, a suite of scaling tools for Ethereum developed by Offchain Labs, is a venture-backed and Princeton-founded startup with two active chains, Arbitrum One and Arbitrum Nova.
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