TMCnet News

HTC Corp to buy into US cloud video game firm OnLive
[February 08, 2011]

HTC Corp to buy into US cloud video game firm OnLive


(M&A Navigator Via Acquire Media NewsEdge) Taiwanese smartphone manufacturer HTC Corp (TPE:2498) said on Tuesday it had agreed to take 5.33m preferred shares in US OnLive, a start-up focused on cloud video game services, for USD39m (EUR29m), in a move to increase its sector portfolio.



HTC said it will buy the stock through an injection of capital into one of its subsidiaries.

This deal comes after HTC announced yesterday that it will take over British digital multimedia firm Saffron Digital, through a GBP30m (USD48.4m/EUR36m) capital injection into another subsidiary.


With the acquisition of Saffron, HTC aims to boost its global service delivery capabilities, it said.

Country: , UK, USA Sector: Media, IT/Online Services Target: Saffron Digital, OnLive Inc Buyer: HTC Corp Deal size in USD: 39m , 48.4m Type: Stakebuilding, Corporate acquisition Status: Agreed Comment: The 39m deal size refers to the OnLive deal, while the USD48.4m represents the Saffron acquisition.

((Comments on this story may be sent to [email protected])) (c) 2011 M2 COMMUNICATIONS

[ Back To TMCnet.com's Homepage ]