Six months after reportedly receiving investment at more than a $1bn valuation, online gaming service OnLive has raised $40m from Taiwan-based smartphone maker HTC.
In a filing with the Taiwan Stock Exchange, HTC said it would buy 5.33 million shares in US-based OnLive at $7.50 per share as part of a partnership.
Peter Chou, chief executive of HTC, said: "In a world of mobile internet ubiquity, content is king but it’s not all created equal. OnLive provides a connected cloud-based gaming experience unlike any other. "HTC and OnLive share a similar goal for expanding connected cloud-based gaming by making it wireless and location-independent."
In August, news provider TechRadar.com said OnLive’s recent filing in Delaware gave it a $1.1bn valuation three months after UK phone operator BT and Belgium-based peer Belgacom invested $30m each for both to own 2.6% of OnLive.
BT said its stake came with exclusive rights to bundle the OnLive Game Service with broadband in the UK as its first move into online gaming, with Belgacom gaining the rights for Belgium and Luxembourg.
US phone group AT&T, family office Lauder Partners, media company Warner Brothers, software engineering group Autodesk and venture capital firm Maverick Capital closed its series C round at an undisclosed size in September 2009, two years after its $16.5m series B round.