Online Game Streaming Service OnLive to Shut Down; Selling its Patents to Sony

image source: pinoytutorial

image source: pinoytutorial

California-based online gaming startup OnLive officially announced on Thursday that it is shutting down its servers on 30th April via an official notice on its website, and it will sell over 140 of its patents to Sony.

After today, no further subscription renewals will be charged for any OnLive service. The subscriptions renewed on or after 20th March will be refunded.Nevertheless, the servers will be running for existing customers totally free till 30th April. Users who purchased the company’s PlayPass games won’t be able to play them after the service shuts down, nor will they be able to use its OnLive game system or controller peripheral on any other platforms. However, the company is giving refunds to people who purchased either of those two pieces of hardware on or after February 1st.

The company has been facing financial crises for a while now, as its mass employee layoff in 2012 was evident about the fact. Sony will use the patents bought to better the experience of its Playstation series, which is similar to what it did by buying Gaikai in 2012

Similar Read:  Startup India: How to Hire Your First Head of Sales - Part 1
Category