Cloud gaming service OnLive has closed a "major round of funding" led by AT&T Media Holdings and Lauder Partners. Previous investors Warner Bros, Autodesk and Maverick Capital also participated in the round. The terms of the deal remain undisclosed but CEO Steve Perlman claims it is a "large investment at a large valuation".
Perlman says the new funding "gives us a serious jolt of rocket fuel" to kick-start OnLive's launch of its on-demand gaming service. The company has signed deals with Electronic Arts, Ubisoft and Take-Two Interactive Software and hopes to launch this winter.
Analysts predict that OnLive could potentially shake up the gaming industry and pose a threat to console makers Nintendo, Microsoft and Sony.
StrategyEye's related categories: Home Game Consoles, Online Gaming - On Demand
StrategyEye's related companies: OnLive, Ubisoft, Lauder Partners, Autodesk, Sony, Warner Bros. Entertainment Group, Electronic Arts, Maverick Capital, Microsoft, Nintendo, AT&T
