Update: OnLive acquired, "backed by substantial funding" - details later

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http://mashable.com/2012/08/17/onlive-layoffs/

We’re hearing unconfirmed reports that OnLive — a cloud gaming startup focused on bringing a console experience to devices such as the iPhone, iPad and Android phones — laid off its entire staff Friday.

According to a source close to the situation, the company called an all hands meeting at 10am PDT, at which the entire staff was fired. Some staffers may be rehired as the company transitions to its next unknown iteration.

OnLive most recently announced a partnership with Ouya, the Android-based hacker friendly game console that broke records and stole hearts on Kickstarter.

The company was preparing to launch a new connected device in conjunction with Vizio. Past conversations with the company also indicated that a focus on mobile and tablet devices would continue.

Our source tells us that many employees blame the failure of the company squarely on the CEO — who refused to sell the company “many times.” There is speculation that the future company may simply be pure intellectual property play. OnLive reportedly has lots of patents covering cloud-distributed content, especially in 3D graphics.

Developing…
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UPDATE
https://www.gameinformer.com/b/news/archive/2012/08/17/onlive-denies-closure-reports.aspx

Update: Onlive has provided the following statement to Game Informer:

We can now confirm that the assets of OnLive, Inc. have been acquired into a newly-formed company and is backed by substantial funding, and which will continue to operate the OnLive Game and Desktop services, as well as support all of OnLive's apps and devices, as well as game, productivity and enterprise partnerships. The new company is hiring a large percentage of OnLive, Inc.'s staff across all departments and plans to continue to hire substantially more people, including OnLive employees. All previously announced products and services, including those in the works, will continue and there is no expected interruption of any OnLive services.

We apologize that we were unable to comment on this transaction until it completed, and were limited to reporting on news related to OnLive's businesses. Now that the transaction is complete, we are able to make this statement.
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