OnLive sheds light on acquisition, promises new products and uninterrupted service

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OnLive has just issued a statement about its major corporate shake-up, confirming the sale of its assets, and promising that its services will “continue without interruption.” The company says that on August 17th, all of its assets “were acquired by a newly formed company that will continue to operate under the OnLive name,” and has confirmed that it is restructuring under an “Assignment for the Benefit of Creditors” — an option for struggling companies that allows them to transfer all of their assets to another one to run the business more efficiently, or for other purposes.

OnLive says that Lauder Partners — a venture capital firm that’s invested in companies like Aereo and LiveScribe — is the company’s “first investor.” It’s not…

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