You may remember that assets of OnLive were sold a few weeks back to the venture capitalist, Gary Lauder, what you don’t know is how much for.
Well it has just been revealed that Lauder paid a tiny $4.8 million USD for those assets which are very close to the rumored $4 million, the buyout happened three days before OnLive conducted its layoffs, and was formed into a new company Lauder has named OL2.
The assets that he bought include the all of the company’s intellectual property, including the name “OnLive, which basically means that Lauder owns the whole company, but also meant they could remain in business with as few repercussions as possible.
But the weirdest part is certainly the price Lauder paid for it, especially when you factor in that Gaikai was sold for $380 million just a few weeks before, but that is likely due to the $18.7 million dollars the company had in outstanding debts.
What do you think about this? Let us know in the comments below.
Source: Mercury News