Wednesday, October 10, 2012

Exclusive: Assets of Palo Alto gaming company OnLive were sold off for just $4.8 million - San Jose Mercury News

OnLifeSupport
"OnLive, which had previously raised more than $40 million from AT&T, HTC and other major investors, had been exploring a sale or another investment for a "substantial period of time," noted Joel Weinberg, the CEO of Insolvency Services Group, which is handing OnLive's bankruptcy-like process, in the letter. Running out of cash, the company decided to liquidate its assets through an assignment for the benefit of creditors, a bankruptcy alternative that operates under state law."
Exclusive: Assets of Palo Alto gaming company OnLive were sold off for just $4.8 million - San Jose Mercury News
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