Official statement from Waterfox's developer: https://www.waterfox.net/blog/waterfox-has-joined-system1
Also, Alex appears to have stepped down as director of Waterfox and a co-founder of System1 became director: https://beta.companieshouse.gov.uk/company/08071145/filing-h...
Sad news indeeed; I loved Waterfox:(
Also, If he would have asked for help, I'd have happily donated some quid.