OnLive's director of corporate communications Brian Jaquet has told Forbes, "We are not going out of business."
Reports today from several sources - many citing affected OnLive employees - claim the firm has laid off its entire staff and has filed for 'a form of bankruptcy'.
Jaquet has been quoted by several outlets downplaying the closure reports, saying "of course not" in response to questioning.
Speaking to Forbes, Jaques said "Let me be clear. We are not going out of business," which, in light of the extent of the reports, would suggest a takeover.
Reports suggest that the OnLive service will continue, but "the company as it stands now would cease to exist" and "no one would be employed by OnLive" by the end of today.
"A subset of employees would be brought on to the company created from the remains of OnLive," Kotaku was told.
More as it breaks.