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OnLive's New Buyer Revealed

Onlive's mysterious buyer is a mystery no longer. The streaming-game company was purchased by venture capitalist group Lauder Partners, LLC – helmed by tech investor Gary Lauder.

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LostDjinn2782d ago

Oh crap!

No stock was purchased. Everyone who held stock in the old OnLive just got #@%&ed. I'll bet LLC paid cents on the dollar for those assets as well.

cl19832782d ago (Edited 2782d ago )

Well depending on how Onlive was fiscally structured Lauder Partners could of had to pay full price for some items, and then be able to purchase the ip's for pennies on the dollar.

@LostDjinn below- I don't know California disclosure law so I cant say, but seems quite possible.

LostDjinn2782d ago

Something tells me they're not goin' to share that info for some reason. ;)

gaffyh2781d ago

I don't know about anyone else, but I really hoped someone who actually knew about gaming had bought this company out, but it's just a random venture capitalist meaning, he throws money at OnLive, nothing changes, and we're back in this same situation a year or two from now.

Series_IIa2782d ago

Onlive is a privately held company anyway, the only people who would have any stock in the company are the top executives of the company

cl19832782d ago (Edited 2782d ago )

Alongside HTC, other major technology companies have also invested in OnLive, including Warner Brothers, AT&T and BT, which acquired a 2.6% stake in the company.
http://n4g.com/news/1063668...
Also employees at all different levels held stock in the company

OC_MurphysLaw2782d ago

You know if I am one of those former investors I would screaming bloody murder. Something about this whole situation just stinks as in insider dealing. Onlive files ABC, they get to pick the creditor trustee who just happens to sell the company assets in their entirety to this VC guy. Prior to this Perlman was holding out on selling to the likes of HP cause he wanted 1 billion. Now he fucks his employee's, investors and people he actually owed money to with this ABC filing... gets a new job / company doing exactly the samething just minus a salary (which i doubt he needs anyway) but i am sure he is getting a huge chunk of new stock in the new company. Just feels a bit underhanded imo.

palaeomerus2782d ago

"Q. Did Steve Perlman receive stock or compensation in this transaction?

A. Like all shareholders, neither Steve nor any of his companies received any stock in the new company or compensation in this transaction at all. Steve is receiving no compensation whatsoever and most execs are receiving reduced compensation to allow the company to hire as many employees as possible within the current budget."

OC_MurphysLaw2782d ago

Well at least its not blatant, but do you really think Perlman has not been promised something in return for staying on?

+ Show (1) more replyLast reply 2782d ago
Lol_Lmao2782d ago (Edited 2782d ago )

Gaikai FTW!
Screw OnLive for fucking people over.

2782d ago
Megaton2781d ago

Vulture capitalists gonna tear it apart, GG.

ProjectDeputy2781d ago

glad M$ didnt bought onlive now next gen belongs to sony

tachy0n2781d ago

glad the world is not full of fanboys like you.

shutUpAndTakeMyMoney2781d ago (Edited 2781d ago )

no it's just that MS can actually afford to build there own..

MS will be more dominant next gen.

720 will be the best cross platform system.
http://www.youtube.com/watc...
720/pc ports > ps4 ports..
Funny when sony does it you don't mind being lock into the cloud? Stfu..