The owner of a chain of Internet cafes and gaming centers, Global Gaming Factory, has announced the purchase of The Pirate Bay for about $7.8 million, to which The Pirate Bay agreed.

The GGF’s press release says that the company intends to launch new business models that “allow compensation to the content providers and copyright owners.” The Pirate Bay says that this project has been in the pipeline for a while now and that the intention behind it is to evolve the site while trying to stay the same.

The deal should be closed by August and while this might sound as if The Pirate Bay's “stick it to the man” saga hasn’t been successful after all, GGF announced a purchase of a company responsible for what GGF calls “P2P 2.0” sharing technology, which leaves some light at the end of the tunnel.