Pour one out for online streaming game company OnLive – The Verge is on the scene reporting that employees are heading out of the OnLive’s offices with boxes full of personal items. The company is supposedly about to make a statement (and we’ll update this post when they do, so keep an eye out), but rumor has it that OnLive is effectively shut down and their entire staff fired, with their technology and patents having been bought out by a “third party buyer”.
OnLive had been said to be having some financial difficulty lately, and was even rumored as of just a couple of days ago to be filing for a legal form of bankruptcy in California.
Edit #1 @ August 17, 8:08 PM EST: OnLive has just gave an official statement on today’s going-ons, saying that the company is not going out of business, and will be told in its’ entirety to a “newly formed company” with “substantial backing”. Supposedly, most of the company’s employees will be making their way over to the new company, and then staff will be additionally expanded on top of that.
OnLive’s full statements are as follows:
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 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.
Source: The Verge