BitTorrent today announced it has acquired µTorrent, a lightweight and efficient implementation of the BitTorrent protocol. The objective is to combine BitTorrent’s expertise in networking protocols with µTorrent’s high-performance design and compelling user interface (UI).
Following the acquisition, patented content delivery innovations made by BitTorrent will be integrated in the µTorrent client in a “seamless” manner.
The acquisition will also accelerate BitTorrent’s plans to provide high-performance content delivery services to websites seeking an efficient platform for distributing large, high-quality files and strengthen the adoption of BitTorrent technology in embedded systems.

Well there goes another torrent client down the drain :( (it would have been better if they would have just stopped the development like TorrentStorm did years back)