HomeNewsFacebook To Join Cloud Gaming As It Acquired PlayGiga

Facebook To Join Cloud Gaming As It Acquired PlayGiga

Facebook CEO Mark Zuckerberg keeps expanding its investing capital with new acquisitions, now apparently, in the cloud gaming industry.
The company has now purchased PlayGiga, a cloud gaming startup based in Madrid, and confirmed the deal to CNBC.

The announcement comes a week after Cinco Dias reported it was in discussions about purchasing PlayGiga for approximately 70 million euros ($78 million).

PlayGiga was established in 2013 and earned Series A funding from Adara Ventures, as per Crunchbase. Back in May, CEO Javier Polo stated on MCV Develop that the company has been collaborating with telcos to create streaming game technology for 5G, which will aid tech organizations to contact more mobile gamers.

The company has also created a gaming-as-a-service platform by using the Visual Cloud platform from Intel. This will allow telcos and communication service provides to supply streaming games to their clients.

Facebook purchased PlayGiga And Might Join Cloud Gaming

The purchase of the Madrid-based cloud gaming startup comes after Facebook announced last month that it has a confirmed deal to buy Beat Games, the developer of a renown virtual reality game called Beat Saber.

Apparently, Facebook is now creating its gaming business, which claims that it has more than 700 million active users on a monthly basis, as it changes its revenue sources far and above online advertising. Earlier this year, the social media giant has added its Gaming tab to Facebook’s main navigation menu, after it initially launched as an independent application.

The hub comes with the live streaming service it released last year included. The service is a decent competitor to Twitch, Instant Games, and numerous posts from pages related to gaming.

The company has also put its Oculus Quest and Rift headsets on sale earlier this year. This comes after Facebook purchased Oculus for $2 billion in 2014, and launched Facebook Horizon, a VR universe, not long ago.



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