The value of the deal, which will take effect next month, is not disclosed. Starting November, Biteplius.lt discussion forums will be using the brand name Banga.lt and the address www.banga.lt.
The social network used the Banga.lt brand several years ago.
"Tipro Group's team, their experience and the projects they manage show that the social network will be further developed in the right direction. We have put it into the hands of good specialists, who will be able to provide technological innovation and communication experiences to online discussion participants," Bitė Lietuva CEO Chris Robbins said in a press release.
Tipro Group said that it will keep the structure of discussions at Biteplius and the usual formal of its forums unchanged for at least a year.
The company's most popular Internet portals in Lithuania include One.lt, Demotyvacija.lt, Lol.lt and Tarpmergaiciu.lt. It also owns more than 30 Internet projects abroad.
Tipro Group, formerly One.lt, posted a 44 percent drop in revenue to 3 million litas (EUR 870,000) last year. Its annual losses doubled to 1.284 million litas, from 629,000 litas in 2010.
