No Comments OnLive Streaming Game Service sold to anonymous company

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Today we witnessed another rapid website acquisition in the Silicon Valley area. OnLIve, the site that offers streaming gaming service is reported to be sold to an anonymous company. In the morning, first hints of the acquisition came via random tweets from employees who suggested that their jobs were at stake. Finally, it was clear that the Gaming site is having a major transition as people walked out of the office with boxes in their hands and avoided talking to the media. The entire atmosphere was so confusing that different people reported their own version of the event. Finally OnLive issued an official report via Email that cleared the air of confusion. Below are the exact words from the company.

“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.”

We also got reports that OnLive spokesperson Jane Anderson addressed the media claiming that they are acquired by a new angel investment company and most of the sacked employees would be recalled for their jobs. The entire event took place in such a weird manner that we are still confused as to who exactly acquired this gaming stream giant. The best conclusion from this incident is the fact that OnLive will continue to provide the same service to all their users.

In 2012 we have seen substantial increase in our bandwidth speed that allowed developers to usher a new era of direct streaming video game service right on our browses. The Web graphic engines are evolving at a tremendous pace, allowing us to dive deeper into real time gaming on the web. Gaikai is another company that caught the attention of the masses, so it can be rightfully said that this new niche has a huge potential in the future. Maybe keeping all that in mind, the new company acquired Onlive. We hope to bring you more reports on this mystery acquisition pretty soon.

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