OnLive Issues Official Statement

on August 18, 2012 5:25 AM

OnLive has finally broken its silence regarding the rumors suggesting the cloud gaming service was due to close down and lay off its entire staff. The company has confirmed that it has been acquired by an unnamed suitor and will continue to maintain its various services.

Here is the complete statement from OnLive:

We can now confirm that the assets of OnLive, Inc. have been acquired into a newly-formed company and is backed by substantial funding, and which will continue to operate the OnLive Game and Desktop services, as well as support all of OnLive’s apps and devices, as well as game, productivity and enterprise partnerships.

The new company is hiring a large percentage of OnLive, Inc.’s staff across all departments and plans to continue to hire substantially more people, including additional OnLive employees. All previously announced products and services, including those in the works, will continue and there is no expected interruption of any OnLive services. We apologize that we were unable to comment on this transaction until it completed, and were limited to reporting on news related to OnLive’s businesses. Now that the transaction is complete, we are able to make this statement.

This announcement goes against previous reports that suggested that most, if not all of OnLive’s staff were being laid off. E-mails were circulating purportedly from staff members, who claimed that the entire staff were to be let go due to financial troubles. Martyn Williams, a senior correspondent for IDG News later reported over Twitter to have seen ‘three people walk out of OnLive with leaving boxes.’

The good news is that the company will live on and subscribers of the cloud gaming service will still be able to enjoy their games for the foreseeable future. However, it’s likely that this statement has overlooked certain elements of what really did happen, therefore, don’t be surprised if more information is eventually revealed, exposing a potentially deeper controversy. We are also yet to know who the buyer of OnLive is and what their agenda is for the companies future. Hopefully they can stabilize the business financially and remain a worthwhile service to gamers.

 /  Staff Writer
Jonny plays Games, talks Philosophy, reads Psychology, eats Bananas, sleeps...