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Stefan Mileschin 20th August 2012 07:07

OnLive statement confirms layoffs, acquistion by 'newly-formed' company
OnLive has finally issued an official statement after rumors of mass layoffs first leaked out earlier today, confirming that its assets have been acquired into a newly-formed company with what it claims is "substantial" financial backing. The big news for users is that the OnLive Game and Desktop services will remain operational and continue to be supported. The release also claims a "large percentage" of OnLive staff is being hired into the new company with plans to hire more over time. Check the words straight from the source after the break, we'll have more information from some of the displaced employees in a few.

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