Game streaming service OnLive shuts down, Sony acquires assets  

OnLive, the first major game streaming service, will shut down this month and sell its assets to Sony.

OnLive, one of the industry's early attempts at cracking the game streaming nut, will cease its game services later this month. No subscriptions will be renewed after today and refunds will be made to anyone who renewed theirs after March 28. The service will remain active until April 30.

"Following the termination of the company's services and related products, OnLive will engage in an orderly wind-down of the company and cease operations," the company wrote.

The company's IP and select assets have been acquired by Sony, which include a patent portfolio with "substantial innovations in cloud gaming".

Anyone with an active subscription looking to learn more, can consult this FAQ.

Sony bought OnLive's number one competitor, Gaikai, for $380m back in 2012. A move which didn't make too much sense at the time, but was later revealed to be a huge part of Sony's future in the form of PlayStation Now, a game streaming service that relies on Gaikai technology.

Thanks, MCV.