Linden Lab acquisition deal “will take some time due to regulatory process.”

On Tuesday 19th July I asked Ebbe Altberg CEO of Linden Lab on Twitter on when we will hear more from Randy Waterfield and Brad Oberwager on the Linden Lab acquisition. I asked if there is a town hall event or a lab gab event planned.

Ebbe Altberg kindly responded back on Tuesday evening saying this “Hold on everybody. The deal first has to close. Will take some time due to regulatory process. Sit back. Wait. Relax. All is well“.

As it stands the deal isn’t done yet and it will take some time due to the regulatory process. This could mean it could be some months until we next hear anything more official. I’m probably thinking before the end of the summer.

On July 9, 2020, Linden Lab announced “[…][that] it signed an agreement to be acquired by an investment group led by Randy Waterfield and Brad Oberwager. Closing of the acquisition issubject to regulatory approval by financial regulators in the U.S. related to Tilia Inc.’s status as a licensed money transmitter as well as other customary closing conditions. Upon closing, Mr. Waterfield and Mr. Oberwager will join the Board of Directors of Linden Research, Inc.^[23][24][25]“

Once the process is complete then I think Randy Waterfield and Brad Oberwager should come inworld and chat live to the Second Life community. Either by the lab hosting a special town hall meeting or through the successful popular lab gab series. Maybe a special blog announcement would work too.

Don’t forget this is an opportunity to continue growth and expansion for Second Life along with the money services business Tilia. I hope this is the case for positive change and not something in 3 – 5 years which will be a disaster for everyone. As usual time will be the judge. Whatever happens I will be blogging about it.

If this acquisition fails or if Second Life did have to shut down later down the road then you can expect a massive move towards OpenSim grids. I don’t think anyone wants this to happen. Second Life is best virtual world out there today.

It will be nice to hear something more official sooner than later. In the mean time everyone needs to relax and wait. Enjoy the summer.

Advertisement