From V.E.R.A. -- Virtual Entity of Relevant Acronyms (February 2016) :
BITS
Background Intelligent Transfer Service (MS, Windows)
From The Jargon File (version 4.4.7, 29 Dec 2003) :
bits
pl.n.
1. Information. Examples: ?I need some bits about file formats.? (?I need
to know about file formats.?) Compare core dump, sense 4.
2. Machine-readable representation of a document, specifically as
contrasted with paper: ?I have only a photocopy of the Jargon File; does
anyone know where I can get the bits??. See softcopy, source of all good
bits See also bit.