Android's Ouya video game console startup has been acquired by Razer, according to reports by Tech Times.

Tech enthusiasts probably remember that back in 2012, Ouya announced plans of releasing the world's first Android video game console. The project even rounded up more than $8.5 million on Kickstarter, making it one of Kickstarter's top five projects of all time.

However, dreams are far from reality, as Ouya apparently failed to compete with major video game console manufacturers like Microsoft and Sony.

Despite the fact that nobody seemed interested in buying the console, much less developing games for it, Ouya went on to work on other projects. The company created a successful online retail store for apps and a slew of new Android games that could be played on TV.

According to Variety, Razer confirmed on Monday that it would be acquiring Ouya's name, software, its online store and developers as part of the acquisition. However, financial details of the acquisition were not disclosed.

Excluded from the deal was the Ouya video game console or hardware itself, which was the work of famed designer Yves Behar. Apparently, Razer would stick to its own game console, the Android-TV based Razer Forge set-top box and would just transition Ouya users to the Forge.

"There are about 200,000 users on the Ouya platform and for the hardware users," Razer's founder and CEO Min-Liang Tan told TechCrunch. "We intend to, out of goodwill (as we didn't acquire the hardware assets), keep the lights on for their gaming service for at least 12 months as we encourage them to migrate to the Razer service, which will have a lot more features, new content and new games."

"We will have more follow-up announcements soon on the transition to the new service," he said in parting. Ouya's CEO and co-founder, Julie Uhrman, feels positive about the acquisition.

"We are excited that Razer will expand our vision," Uhrman said. "While this was a hard trail to blaze, we proved that we could bring new thinking to how the games industry operates and we hope we have paved the way for others, allowing all game developers to bring his or her game to the big screen."

CNET reported that Tan expects Ouya's publishing business to continue attracting small developers, offering help in testing their games, translating the games to other languages and working with app stores in other countries.

"There's a huge amount of competitive advantage and value that Ouya can bring," he said.

As for the Ouya video game console startup, it looks like the acquisition is the final chapter for what was once hailed as another Kickstarter success story.