OnLive acquired for just under $5 million
OnLive, a cloud-gaming company that had at one time been poised for preeminence in that market, was recently sold for a surprisingly cheap sum.
Venture capitalist Gary Lauder acquired OnLive for just $4.8 million, the company has confirmed in an e-mailed statement to CNET. The Mercury News was first to report on the acquisition, citing a letter it had obtained. The letter, which was reportedly sent to OnLive’s creditors, claims that the company owed $18.7 million. The company’s creditors will only receive one quarter of that back, according to Mercury News.
Over the summer, reports…
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