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August 18, 2012 01:45 am GMT
We're hearing from a reliable source that OnLive's founder and CEO Steve Perlman finally decided to make an exit -- and in the process, is screwing the employees who helped build the company and brand. The cloud gaming company reportedly had several suitors over the last few years (perhaps including Microsoft) but Perlman reportedly held tight control over the company, apparently not wanting to sell or share any of OnLive's secret sauce.Our source tells us that the buyer wants all of OnLive's assets -- the intellectual property, branding, and likely patents -- but the plan is to keep the gaming company up and running. However, OnLive management cleaned house today, reportedly firing nearly the entire staff, and we hear it was done just to reduce the company's liability, thus reducing employee equity to practically zero. Yeah, it's a massive dick move.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/SOui3qK4_aM/
Source: OnLive Found A Buyer, Cleaned House To Reduce Liability Prior To Acquisition (UPDATED)
We're hearing from a reliable source that OnLive's founder and CEO Steve Perlman finally decided to make an exit -- and in the process, is screwing the employees who helped build the company and brand. The cloud gaming company reportedly had several suitors over the last few years (perhaps including Microsoft) but Perlman reportedly held tight control over the company, apparently not wanting to sell or share any of OnLive's secret sauce.Our source tells us that the buyer wants all of OnLive's assets -- the intellectual property, branding, and likely patents -- but the plan is to keep the gaming company up and running. However, OnLive management cleaned house today, reportedly firing nearly the entire staff, and we hear it was done just to reduce the company's liability, thus reducing employee equity to practically zero. Yeah, it's a massive dick move.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/SOui3qK4_aM/
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