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Monday, August 20, 2012

HTC admits OnLive gaming investment will end in a loss

HTC, which took a stake in cloud-based game streaming service OnLive last year, has been hit by OnLive’s recent restructuring. It means that HTC - which started working with Sony’s PlayStation Mobile gaming platform earlier this year - is looking at a $40 million (£25.5 million) loss.

However, that’s not stopped it making another investment in a different area. The company has just announced a $35.4 million investment for a 17.1% stake in Silicon Valley start-up Magnet Systems, the creator of a mobile app development platform for businesses.

HTC says the investment will bring social, mobile and cloud capabilities to its portfolio of service offerings for mobile enterprise customers.

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Author: The Fonecast
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