OnLive confirms sale to 'newly-formed company'

Will continue to operate the OnLive Game and Desktop services

OnLive has issued an official statement to confirm earlier reports that it has been acquired by a "newly-formed company".


The statement confirms that OnLive services and all future developments will continue with "no expected interruption".

Here's the full statement (Via The Verge):

"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."

Staff cuts - reportedly affecting around 50 per cent of employees - go unmentioned, as does the identity of the buyer. Large numbers of staff were seen leaving the OnLive offices today clutching boxes full of belongings.

Most importantly to customers, however, is the fact that the OnLive service will apparently go unaffected - relieving news for those stunned by last night's initial OnLive closure reports.