Facebook acquires cloud gaming company PlayGiga

The acquisition for approximately €70 million came to light last week but no price confirmation made

Facebook has acquired Madrid-based company PlayGiga, which specialises in cloud gaming.

A Facebook spokesperson confirmed the deal after Spanish business newspaper Cinco Dias reported that the acquisition was imminent and that the price was approximately €70 million ($78 million).

“We’re thrilled to welcome PlayGiga to the Facebook Gaming team,” the spokesperson said. No comment was made on the price.

PlayGiga was founded in 2013 and says on its website: “We are continuing our work in cloud gaming, now with a new mission.”

Facebook has been expanding its efforts in gaming in recent years. It acquired virtual reality headset maker Oculus for $2 billion in 2014, and began selling the Oculus Quest and Oculus Rift S $399 VR headsets in May of this year.

In November 2016 Facebook announced Instant Games, consisting of light games for the Facebook and Messenger apps.

The company claims there are more than 700 million users each month engaging with some sort of gaming content.

FURTHER READING: Google’s cloud gaming service Stadia launches

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