Tucows is buying Blogrolling. This, from the press release which just crossed the wire:

TORONTO, Feb. 27 /PRNewswire-FirstCall/ -- Tucows Inc. (OTC Bulletin Board: TCOW) today announced the acquisition of BlogRolling.com, a popular website and weblog tracking service.

BlogRolling.com presently tracks over 500,000 weblog links for more than
32,000 users. Each day BlogRolling.com serves over 1.5 million blogrolls to
users of all major weblog platforms. BlogRolling.com is a blogroll management
service; a list of links that a website or weblog owner can include in their
web pages as a public list of bookmarks. Tucows will continue to support
BlogRolling.com users and all weblog platforms as it continues to develop new
features for the service.

Since Blogrolling acts as a major, if not primary, syndicator for the blogosphere, this, obviously, could have untold impact on the new medium.

Let the handwringing begin.

MORE: Jason DeFillippo writes that he talked to several companies about a sale, and Tucows promised to keep running things as is:

The decision to sell the company was a very difficult one for me and after talking to several companies who were interested, I decided on Tucows because they are an extremely upstanding group of guys (they're Canadian, after all!) who will treat all of you with care and respect. They are going to continue running Blogrolling as is, which was one of my reasons to go with them. I trust them wholeheartedly and am happy it's going to be taken care of by these fine folks.

MORE: Terms of the deal have been kept quiet, but Tucows says the acquisition is part of a larger blog strategy that the company has been working on for some time.