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August 20, 2012 05:20 am GMT
Faced with a dire financial situation, OnLive is been sold to another company that will do business under the name OnLive. Because the move is an "Assignment for the Benefit of Creditors," wrote Jane Anderson, the new OnLive PR rep, "Unfortunately neither OnLive, Inc. shares nor OnLive staff could transfer under this type of transaction, but almost half of OnLives staff were given employment offers by the new company at their current salaries immediately upon the transfer, and the non-hired staff will be given offers to do consulting in return for options in the new company."
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YWoX_hKz5MQ/
OnLive Sold To OnLive And Nothing Will Change, Heartbreaking Transition Notwithstanding
Faced with a dire financial situation, OnLive is been sold to another company that will do business under the name OnLive. Because the move is an "Assignment for the Benefit of Creditors," wrote Jane Anderson, the new OnLive PR rep, "Unfortunately neither OnLive, Inc. shares nor OnLive staff could transfer under this type of transaction, but almost half of OnLives staff were given employment offers by the new company at their current salaries immediately upon the transfer, and the non-hired staff will be given offers to do consulting in return for options in the new company."Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YWoX_hKz5MQ/
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