» News » All
OnLive purchased, will continue to operate
Users should see no change in the OnLive Game or Desktop Services
Posted by Alex 'SpectralShock' V on Aug 20, 2012 - 4:18pm EST (Aug 20, 2012 16:18)
OnLive has announced today that on August 17th all of its assets were acquired by a newly formed company that will continue to operate under the OnLive name.
The OnLive Game and Desktop Services, all OnLive Devices and Apps, as well as all OnLive partnerships, are expected to continue without interruption and all customer purchases will remain intact; users are not expected to notice any change whatsoever. OnLive's current initiatives will continue as well, with major announcements of new products and services planned in the coming weeks and months.
An affiliate of Lauder Partners was the first investor in the newly-structured company, with a passion to see OnLive's breakthrough technology continue to grow and evolve. The new company structure enables OnLive to do so.
Almost half of OnLive's staff were offered employment at their current salaries in the new company immediately upon the transfer, and the non-hired staff will be given offers to do consulting in return for options in the new company. Upon closing additional funding, the company plans to hire more staff, both former OnLive employees as well as new employees.