OnLive officially sold to newly-formed company, releases statement

Posted By | On 20th, Aug. 2012 Under News | Follow This Author @KartikMdgl

There have been plenty of rumours about OnLive and their struggles to keep the company afloat. Recently news spread out that Onlive was getting bought out by another company and has fired a large amount of staff, which was denied by various people at OnLive, but now we finally have a definite answer as to the future of the company.

OnLive has been bought out by a newly-formed company whose name is yet to be disclosed, here’s the statement they released to Polygon.

“We can now confirm that the assets of OnLive, Inc. have been acquired into a newly-formed company and is backed by substantial funding, and which will continue to operate the OnLive Game and Desktop services, as well as support all of OnLive’s apps and devices, as well as game, productivity and enterprise partnerships,” the statement read.

“The new company is hiring a large percentage of OnLive, Inc.’s staff across all departments and plans to continue to hire substantially more people, including additional OnLive employees. All previously announced products and services, including those in the works, will continue and there is no expected interruption of any OnLive services.

“We apologize that we were unable to comment on this transaction until it completed, and were limited to reporting on news related to OnLive’s businesses. Now that the transaction is complete, we are able to make this statement.”

One good thing to come out of this is that the new company is hiring a lot of old staff and there isn’t any expected interruption of any OnLive services.

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