OnLive's video gaming tech was sold for less than $5m

jmke · 11th October 2012, 13:24

Cloud video gaming service OnLive was sold to a venture capital group for just $4.8m (£3m), it has emerged.

The sale - which also involved many of the company's workers losing their jobs, and investors writing off their stakes - took place in August.

Analysts had previously discussed the business being worth as much as $1.8bn. Its rival, Gaikai, was sold to Sony for $380m in July.

Creditors were told efforts to secure a higher price might have backfired.

OnLive's founder, Steve Perlman, left the firm shortly after the deal. However, Lauder Partners continues to offer the service in the US, UK and Belgium.

http://www.bbc.co.uk/news/technology-19896362

jmke · 11th October 2012, 13:24

US, UK and Belgium?

why Belgium?

11th October 2012, 13:24	#1
jmke Madshrimp Join Date: May 2002 Location: 7090/Belgium Posts: 79,022	OnLive's video gaming tech was sold for less than $5m Cloud video gaming service OnLive was sold to a venture capital group for just $4.8m (£3m), it has emerged. The sale - which also involved many of the company's workers losing their jobs, and investors writing off their stakes - took place in August. Analysts had previously discussed the business being worth as much as $1.8bn. Its rival, Gaikai, was sold to Sony for $380m in July. Creditors were told efforts to secure a higher price might have backfired. OnLive's founder, Steve Perlman, left the firm shortly after the deal. However, Lauder Partners continues to offer the service in the US, UK and Belgium. http://www.bbc.co.uk/news/technology-19896362 __________________

11th October 2012, 13:24	#2
jmke Madshrimp Join Date: May 2002 Location: 7090/Belgium Posts: 79,022	US, UK and Belgium? why Belgium? __________________

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
How Gaming Tech Is Making Safer Cars	Stefan Mileschin	WebNews	0	5th September 2012 08:37
HTC to lose its $40 million investment from OnLive's financial restructuring	Stefan Mileschin	WebNews	0	21st August 2012 07:19
Gaming on the iPhone 4S @ Tech-Reviews.co.uk	Stefan Mileschin	WebNews	0	18th October 2011 07:40
PC Gaming Is Dead: StarCraft II only sold 1.5 million times in 48 hours	jmke	WebNews	0	5th August 2010 18:18
Blinkx upgrades the tech on its video search platform	Shogun	WebNews	0	6th May 2008 23:22
BFG Tech GeForce 8600 GTS OC2 video card review	jmke	WebNews	0	19th July 2007 23:05
A4 Tech X7 Gaming mouse	jmke	WebNews	0	16th May 2006 13:30
BFG Tech 7900GT 256MB Video Card	Sidney	WebNews	0	2nd April 2006 00:39
Sunbeam Tech X-1300 Gaming Mouse	jmke	WebNews	0	10th October 2005 00:19
New gaming article at bit-tech	Sidney	WebNews	0	24th May 2005 00:08