Yesterday was just a giant roller coaster ride for for video game streaming service OnLive. After rumors that the company would be shutting its doors for good, a company statement revealed that it’s been bought out by an unknown company. Details remain scarce, but the entire situation is interesting.
Rumors about OnLive began yesterday as reports came in that the company was laying off a large chunk of it’s staff, leading to rumors of bankruptcy and buyouts. Unfortunately, those reports turned out to be accurate; as part of the company’s buyout and subsequent restructuring, half of the company’s staff is being handed pink slips. A “large percentage” of the remaining employees have supposedly received job offers from OnLive’s new parent company, though who knows exactly what that means.
The big question is: Who the heck bought the company? According to a statement from OnLive mouthpiece Brian Jaquet, OnLive’s new master and commander is “a newly-formed company and is backed by substantial of funding.” An audio recording of a recent meeting leaked to Joystiq has indicated that the “company” may actually be one person, who was “impressed” by the ideas behind OnLive.
In the meantime, OnLive says that all of their services will remain active during the transition, so there’s no need to panic if you’re one of the few, the proud, the OnLive gaming community.
- Now who do you think bought OnLive?
- OnLive’s biggest competition was bought out by Sony.
- Remember that time OnLive was in the news?
Published: Aug 18, 2012 11:00 am