OnLive Assets Sold

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There were several rumors circulating earlier in the day that OnLive might be shutting down. Venturebeat has confirmed that the service will continue to operate but the assets have been sold to a newly formed, unnamed company that has “substantial” funding.

A spokesperson for Steve Perlman, president and CEO of OnLive, issued the following to Venturebeat:

“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 company said in a statement. “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.”

More at Venturebeat.


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