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Cloud Gaming Service OnLive Backed By Investment From HTC

February 9, 2011 by Winston Comments Off on Cloud Gaming Service OnLive Backed By Investment From HTC divider image

The cloud based gaming service, OnLive, has recently been backed by the mobile mogul HTC. According to a report by the Wall Street Journal, the Taiwanese smartphone company has invested $40 million in OnLive.

The Wall Street Journal has cited an HTC spokesperson, saying that the HTC investment in OnLive will help to bring video games to smartphones.

The investment has given HTC 5.3 million shares of OnLive. Each share was purchased at $7.50 per unit, according to the report.

This is not the first major investor to come to OnLive. In January, Vizio had announced that they will be taking part in the streaming company. Vizio will be working with OnLive to deliver the stream to Vizio branded HDTVs, their tables, smartphones and Blu-ray players.

The OnLive streaming video game service uses remote servers to distribute games found on the PlayStation 3, the Xbox 360, and even computer games. The service uses remote servers to run the games, which are then sent to the OnLive gaming console in order to display the games on a television. The service will cost $9.99 a month for an unlimited access package to a of different games. Individual games can be purchased for 3, 5 and unlimited play as well.

OnLive is not currently a publicly traded company. No rumors have hinted at an IPO from OnLive, but it is unlikely that the company will issue stock to the public.

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