ConsenSys has acquired Quorum, a blockchain network based on the Ethereum blockchain and developed by JPMorgan.
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According to an official press release, with the acquisition, ConsenSys offers a full range of products, services, and support for Quorum, accelerating the availability of features and capabilities.
ConsenSys CEO and Founder, Joseph Lubin, says ConsenSys collaborated with JP Morgan on Ethereum proofs of concept and production systems even before the company itself was established.
"We are enormously excited to onboard Quorum into the ConsenSys Enterprise Ethereum stack, and look forward to unifying our Hyperledger Besu-based Enterprise Ethereum client with Quorum, and supporting all of the Quorum installations globally," Lubin added.
The Ethereum-focused company will integrate its protocol engineering roadmap with Quorum. The project will reportedly remain open source and become interoperable with ConsenSys’ other leading blockchain products.
Earlier in August, JPMorgan planned to lead a new round of investment in the Ethereum incubator ConsenSys. Back then, the American banking giant was planning to contribute with $20 million to the investment round.
In April this year, ConsenSys laid off about 14% of its staff due to the crisis caused by the coronavirus pandemic. Lubin said in a video conference that he "considered many levers" the company could pull to weather that storm.
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