Gaming start-up Ouya, the maker of the Android-based micro-console, has reportedly placed itself up for sale in a bid to save its future.
Fortune is citing a memo sent to investors by CEO Julie Uhrman, which says the firm has been unable to restructure its debt and is now hoping to complete a swift sale to keep itself afloat.
“Given our debtholder’s timeline,” Urham reportedly wrote, “the process will be quick. We are looking for expressions of interest by the end of this month.”
It doesn’t appear as if Urham is planning a shutdown of the Ouya ecosystem, claiming that it remains ‘real and valuable’ to the gamers who use the console every day.
“Our focus now is trying to recover as much investor capital as possible,” the memo reportedly read (via The Verge).
“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!”
Ouya had arrived in 2013, courtesy of some heavy backing from Kickstarter users during the previous year.
The $99/£99 device had promised to bring Android gaming to the living room TV, offering a portal for developers and an affordable alternative to the PlayStations and Xboxes of the world.
However, the device stuttered out of the gate with a host of UI problems and a lack of interest from the developer community.