Ouya Facing Debt Issues, Seeking Buyer - Report

"Our focus now is trying to recover as much investor capital as possible," says the CEO in an email.


Ouya, the company behind the gaming microconsole of the same name, is seeking a buyer amidst debt issues, according to a new report by Fortune.

The site was able to obtain an email sent by CEO Julie Uhrman to investors and advisors earlier this month. She notes, "Given our debtholder's timeline, the process will be quick. We are looking for expressions of interest by the end of this month."

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This move comes in the wake of failed attempts to restructure debt, as well as reports last year that it was seeking a buyer.

"Our focus now is trying to recover as much investor capital as possible,” Uhrman said in the email. "We believe we've built something real and valuable. I continue to read the tweets and emails of our fans who play Ouya every day, and our catalog is now over 1,000 apps and 40,000 developers. We have the largest library of Android content for the TV (still more than Amazon)--hells ya!"

It was only three months ago, back in January, that Ouya received a $10 million investment from Chinese company Alibaba.

After raising more than $8 million through a Kickstarter campaign in 2012, the Android-based microconsole launched in 2013, but has yet to catch on in a major way. Since then, Ouya has attempted to expand its operations by offering its games on third-party devices.

GameSpot has contacted Ouya for more information, but the company declined to comment..

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