OnLive Acquires OnLive 154
techfun89 writes with an update on OnLive shutting down. From the article: "The restructured OnLive has issued an press release and FAQ to attempt to clear up any rumors and misinformation on the companies recent changes. OnLive is emphasizing that the streaming game service will go on uninterrupted and the 'Newly formed company' will continue to use the OnLive name. The press release also outlines the Assignment for the Benefit of Creditors (ABC) process OnLive used to settle debts and that an affiliate of Lauder Partners, a technology investment firm, was the new OnLive's first investor. The firm talked about the necessity of laying off its staff, stating that 'neither OnLive, Inc. shares nor OnLive staff could transfer under this type of transaction,' and confirming that nearly half of the previous staff had been offered positions at the new company. The new firm mentions that this acquisition holds hope for the future 'of transforming the OnLive vision into reality.' This effectively means that OnLive was essentially bought out by OnLive, or rather, more specifically, one of their original investors in the company who backed the startup back in 2009."
heh (Score:5, Funny)
Xzibit's head just blew up
Uh... (Score:2, Funny)
Uhh.... what. That's not nearly close enough to "half" and "halve" would just make my mind cry.
Spin (Score:5, Funny)
...confirming that nearly half of the previous staff had been offered positions at the new company.
I guess that sounds better than "we fired more than half of our employees".
OnLive is dead. (Score:5, Funny)
Long Live OnLive!
Re:Sounds Like a Shell Game (Score:5, Funny)
I can't wait for the lawsuit where they sue the new OnLive for copyright breach and take them(selves) to court.
Re:Sounds Like a Shell Game (Score:5, Funny)
well, it's options to the _new_ onlive. this time it's legit! /s