. It's a good thing HTC (2498) dialed back its Beats investment last month, because the $150 million it will save on that deal might help take the sting off the $40 million the company just lost on another investment. OnLive, a cloud-based gaming company that launched two years ago, just imploded. Huge layoffs swept the gaming startup late last week as the firm's assets were acquired by a new company. According to a recent filing with the Taiwan stock exchange uncovered by IDG News, the $40 million investment HTC made in the streaming video game service will evaporate as part of that acquisition.
Boy Genius Report , HTC burned for $40 million as cloud gaming startup OnLive implodes, HTC burned for $40 million as cloud gaming startup OnLive implodes
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