News
Sony Acquires OnLive Streaming Game Service
Sony, in a bid to beef up its PlayStation Now service, is acquiring OnLive’s patents for an undisclosed sum. OnLive hoped to change the video game industry by removing the need for expensive hardware, according to a report by CNET.
OnLive, one of the most promising video game startups in the industry, is shutting down.
The Mountain View, Calif., company, which offered gamers a groundbreaking new way to play games over the Internet, announced Thursday that it’s selling its patents to Sony.
OnLive’s service will be shut down after 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,” OnLive wrote in a statement. Sony confirmed the deal, saying the purchase opens “great opportunities for our gamers, and gives Sony a formidable patent portfolio.” Terms of the deal were not disclosed.
The sale brings to an end one of the more ambitious new video game technology startups. Founded more than a decade ago by Apple and Microsoft alum Steve Perlman, OnLive was built to offer customers a way to play visually sophisticated video games without having to own expensive computing hardware.
The way it worked was through a technology called “cloud gaming,” where gaming programs would run on powerful computers in a server, and the images would be broadcast over the Internet to a gamer playing on a tablet or computer, much in the same way Netflix streams videos to television sets.
But OnLive struggled. Two years after its high-profile launch in 2010, high costs and anemic marketingforced the company to enter a form of bankruptcy, during which OnLive laid off much of its staff and effectively sold itself to investor Lauder Partners. The company relaunched, offering streaming technology for gamers who used Valve Corp.’s Steam online store, but otherwise it appeared to scale back its ambitions.
In 2012, OnLive said it counted 1.75 million active users, some of whom paid $9.99 per month to access its game library of 250 titles on devices ranging from TVs and PCs to smartphones and tablets.
OnLive also at one point sold access to newer titles outright at prices similar to retail.
One of the biggest challenges for game-streaming technology has been convincing players to pay for it.
Only 2 percent of gamers had spent money on cloud gaming technology by last June, according to a survey from research firm IDC.
Only about 13 percent of gamers said they were even interested in spending money on it.
OnLive wasn’t the only company offering streaming technology. Nvidia, which is best known for making microprocessing chips for PCs, offers a game-streaming service for PCs and set-top boxes called GRID.
But perhaps the biggest company offering this technology is Sony. The Japanese tech giant built a streaming service for its PlayStation family of gaming devices using technology it bought in 2012 from a company called Gaikai for $380 million.
The PlayStation Now streaming service, as it’s now known, launched in January.
But Sony faces similar problems to OnLive: cost and lack of interest from gamers. Currently, PlayStation Now allows for the streaming of only about 100 older games.
The company has also priced its service higher than OnLive’s, at $20 a month or $45 for three months. Sony has declined to say how many gamers have signed up for its service.
Though it does offer the ability to rent games on a title-by-title basis, Sony has been criticized for offering unrealistic prices as high as $5 for four hours or $30 for a 90-day play period. Sony says publishers and developers decide what rental durations are offered.
What’s unclear is whether Sony can succeed where OnLive appears to have failed. In its statement, Sony said its continued investment “is yet another proof point that demonstrates our commitment to changing the way gamers experience the world of PlayStation.
DataPro Rating Agency has upgraded the long-term credit rating of Dangote Cement Plc to AA+ from AA, citing the company’s strong financial performance, market leadership and ability to meet its financial obligations despite Nigeria’s challenging economic environment.
In its latest rating report, the technology-driven credit rating agency also affirmed Dangote Cement’s short-term rating at A1, with a Stable Outlook. The ratings are valid until June 16, 2027.
DataPro said the upgrade reflects the cement maker’s sustained financial strength, resilient operating performance and dominant position in Nigeria and across Africa.
According to the agency, the assessment followed a comprehensive review of the company’s capital base, earnings, liquidity, corporate governance, regulatory compliance and the sustainability of its financial performance over the medium to long term.
It noted that Dangote Cement’s strong brand, leading market share, solid earnings, robust asset base and experienced management continue to strengthen its ability to meet financial commitments on time.
The agency also highlighted the company’s outstanding financial performance in 2025.
According to the report, Dangote Cement posted N4.31 trillion in revenue during the year, representing a 20 per cent increase from the previous year. Profit before tax more than doubled, rising 109 per cent to N1.53 trillion, driven by higher sales, improved operating efficiency, lower finance costs and a stronger capital structure.
DataPro said the AA+ long-term rating indicates low credit risk and reflects excellent financial strength, business profile and operating performance relative to its rating benchmarks.
It added that the A1 short-term rating signifies good credit quality and shows that the company has a strong capacity to meet its short-term financial obligations as they fall due.
The rating agency, however, noted that the credit rating has a maximum shelf life of 12 calendar months in line with international best practice and should be used only as a reference, not as an offer to trade in securities or as a substitute for investors’ independent judgement.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
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