Razer Will Pay What Ouya Owes To Indie Devs

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Apparently there is going to be a happy ending to this story.

Tan said that while he was aware of various marketing initiatives, including the Free the Games Fund, he didn't realize there was an outstanding debt. "We only acquired the team, the platform and the assets of Ouya," he said. "We didn't look at the debts because that's not how the deal was structured for us."
 
If you're saying you're not looking at the debt profile of a company you're acquiring, you're either lying or being lied to. Take your pick.
 
psimitry said:
If you're saying you're not looking at the debt profile of a company you're acquiring, you're either lying or being lied to. Take your pick.
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I think all he's saying is that they were only buying specific assets and weren't acquiring any of Ouya's liabilities. That's common in acquisitions where you only want the good parts and none of the bad.
 
heatlesssun said:
I think all he's saying is that they were only buying specific assets and weren't acquiring any of Ouya's liabilities. That's common in acquisitions where you only want the good parts and none of the bad.
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Regardless, they should have known it was bad PR and never should have gotten to the point that they have to defend themselves.
 
heatlesssun said:
I think all he's saying is that they were only buying specific assets and weren't acquiring any of Ouya's liabilities. That's common in acquisitions where you only want the good parts and none of the bad.
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I'm curious who still technically owns those liabilities. Is there a company out there now that just owns some hardware designs and a bunch of debt, and nothing else (not even a name)?
 
Teenk9 said:
Regardless, they should have known it was bad PR and never should have gotten to the point that they have to defend themselves.
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This can get tricky in M&As. What other liabilities that Ouya might that could blow back?You pay out one group and then now there might be another with a claim. Then these things being to pile up of the deal ends up not being worth it.
 
sir-gold said:
I'm curious who still technically owns those liabilities. Is there a company out there now that just owns some hardware designs and a bunch of debt, and nothing else (not even a name)?
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There's still a legal entity called Ouya that looks to be just a shell for financial purposes for now. They sold their assets and will probably payout secured creditors first and maybe others and then the owners will cash in what's left if anything.
 
sir-gold said:
I'm curious who still technically owns those liabilities. Is there a company out there now that just owns some hardware designs and a bunch of debt, and nothing else (not even a name)?
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Yeah, Ouya. Isn't it grand the way mergers and acquisitions happen in this country. All the gains and none of the liabilities :D
 
mope54 said:
Yeah, Ouya. Isn't it grand the way mergers and acquisitions happen in this country. All the gains and none of the liabilities :D
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Buying out assets from a dead corporation is the same everywhere.
 
were i work we have twice now bought only the assets of the company, not the company itself. When I had to come in the first time and survey all the IT/telco gear, man did it suck having people from that place asking me if they were going to have a job tomorrow...

what happened is everyone was let go of said company and then we hired them on the spot with us.

all debts and such were left with the old company
 
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