Arbitrium’s Offchain Labs acquires leading Ethereum client

Arbitrum’s parent company Offchain Labs has announced its acquisition of Prysmatic Labs, a core Ethereum development team.

Prysmatic Labs is the engineering team behind Prysm, Ethereum’s leading consensus layer client. Prysm is an Ethereum proof-of-stake client that pioneered the Ethereum merge.

Offchain Labs said the move to onboard Prysmatic Labs finds root in their shared commitment to scale Ethereum. Offchain Labs developed the layer-2 scaling solution Arbitrum which runs as a roll-up chain on Ethereum.

Prysmatic Labs co-founder Raul Jordan noted that the merger was a perfect match as the two teams develop their software in the programming language Go and are aligned to keep shipping software that will drive the success of Ethereum.

Prysmatic Labs developer Preston Van Loon added:

“Scaling Ethereum is more important than never and this merger will help Ethereum further its impact globally” added.”

Expectedly, the merger will see a close collaboration between the leading layer 1 and layer 2 developer teams as they work toward delivering faster technologies to scale Ethereum.

Going forward, developers at Prysmatic Labs will join Offchain Labs’ core team. However, they will continue to support Prysm and remain a neutral consensus client on Ethereum, while building out Arbitrium. The team will also be actively involved in developing Ethereum’s EIP-4844 data-sharding initiative.