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Cloud-based gaming service OnLive officially acquired by ‘newly-formed company’ with ‘substantial funding’

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http://www.talkandroid.com – Yesterday, it was reported that the popular cloud-based gaming hub OnLive had allegedly laid off a majority of its staff and planned to file for bankruptcy. OnLive remained quiet for several hours after the initial rumor became widespread. When asked about the potential folding of the company, OnLive’s director of corporate communications refuted the claim by saying “we don’t respond to rumors, but of course not.” As the business day wrapped up, the official word was sent out in the form of an email. We can now confirm that the assets of OnLive, Inc. have been acquire (IT news)