Does OnLive service close?

    On Friday morning, at the next meeting of the OnLive service employees , a pioneer of cloud games, it was announced that the company was filing for bankruptcy and decided to transfer all of its property and management rights to creditors. (in the original Assignment for the Benefit of Creditors) and more than 200 employees lost their jobs on the same day.

    Let's decide what is Assignment for the Benefit of Creditors or ABC for short.

    The action by which a person or company (transferor) transfers jur. the right to own property to an authorized person (assignee), who receives the right to manage or liquidate the property, as well as to pay debts to creditors. Such an action is part of bankruptcy measures and the basis for a compulsory insolvency statement by creditors.

    CEO Steve Perlman has confirmed that the company in its current form ceases to exist and that perhaps a new company will be created on the ashes from OnLive.

    "[Perlman] had broken the news that the company had ceased to exist," said the former employee. "As soon as you hear that phrase, you kind of stop listening. You're more thinking, 'what's the state of my resumé.' »

    The difficult situation of the company was not a surprise to anyone, this was known long before this meeting. For example, Steve in one of his interviews said that on more than 8000 Onlive servers, at the same time, on average only 1600 people play.

    According to a former employee, all of the company's assets were acquired by an unnamed investor and that all services for subscribers will continue to work, but for how long?

    And although there has not yet been an official statement, the company answers all questions with a refusal to comment on any rumors. However, despite this, there are plenty of prerequisites to consider that the company is doing badly.

    Perhaps OnLive just came out ahead of its time?

    Sources -happenbut-onlive-employees-didnt-expect-the-end

    Also popular now: