Technology

OnLive Is Dead, All Assets Sold To OnLive

Yes, it’s sad but true, word got out that the world’s best online gaming site OnLive is dead. But on the bright side, it seems that all assets are sold to OnLive. As confusing as it sounds, it’s the internet business’s way to deal with issues. A little bit weird if not confusing, right?

The story goes like this: after OnLive’s founder and CEO Steve Perlman decided to put an end to his career in this business, he couldn’t do it without a little fuss. Letting all employees go worked just fine. They were the ones who helped making OnLive what it was until just recently. So now, OnLive is dead but several investors seem interested in the famous cloud gaming service (and some say that even Microsoft could be among them).

Word’s out all employees who got fired will be hired by a company that could stand the label OnLive Inc 2. Basically, OnLive sold to OnLive because new investors want to buy everything. It involves all the company’s assets and human resources, from patents and intellectual property to the janitors. Reports claim it’s likely OnLive Inc 2 will even hire some more employees.

OnLive’s demise was a bit of a shock in the internet business, considering the large investors that were roaming around this company. Not so long ago, reports read that Sony could play a part as a potential investor. But Sony bought OnLive’s competitor Gaikai for a very low price.

The game developer had a bit of a rough patch over the past few months. Lauder Partners, financial consultant for the deal, declined to reveal the investment’s value. But Gary Lauder, CEO of Lauder Partners, stated it was “more than enough until it has additional investors”.

Fans of the company’s games hope that all the schemes and methods, including the confusing OnLive bought by OnLive, have a clear purpose. For the ever growing 239,893,600 internet users, the hope is everything is aimed to keep the service up and running by all means.

“The asset acquisition, although a heartbreaking transition for everyone involved with OnLive, allows the company’s core innovation and ongoing offerings” reads a statement from the game developer. According to the company, OnLive’s vision is “to survive and continue to evolve”.

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Eli Wads is one of our expert authors in technology and business fields.Currently living in San Marino, Eli has graduated at Southwestern Academy with a Bachelor Degree in business in 2008. Contact him by dropping him an e-mail at Eli.Wads@dailygossip.org

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