OnLive, Inc. is no more, having cut the bulk of its workforce loose and used an Assignment for the Benefit of Creditors (ABC) to absolve itself of massive debts incurred by the expansion of its services without a corresponding increase in its customer base.

ENGADGET: OnLive's alternative to bankruptcy: just what is an Assignment for the Benefit of Creditors?

The acquisition of Washington Mutual (WaMu) in September 2008 helped it increase its customer base while adding 2, 200 branches, 5, 000 ATMs and 12.6 million checking, savings, mortgage and credit card accounts.

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In January, the customer base stood at 2.1 million, an increase of 11%.

BBC: NEWS | Business | Next sales fall but profits rise