Facebook is getting more into the market for video gaming by acquiring PlayGiga. PlayGiga is an organization based in Madrid specializing in cloud gaming.
On Wednesday, a Facebook representative affirmed the arrangement, after Cinco Dias, a Spanish business paper, last week revealed that the acquisition is about to happen and that the value was roughly 70 million euros (which is around $78M).
“We’re excited to greet PlayGiga to the team of Facebook Gaming,” the representative stated, further declining to give any kind of comment on the price. Established in 2013, PlayGiga in Europe ran a cloud gaming service; however, that activity has slowed down.
The organization says on its website’s main page that they are eager to declare that the PlayGiga team is working on something new. “Our cloud gaming work is continued, and now with an entirely novel mission. We wish to thank all our clients and partners for their help throughout the years.”
Facebook is putting more efforts lately as it hopes to grow in business sectors apart from online advertising. It obtained Oculus in 2014 (VR headset maker) for about $2B. It then started selling the Oculus Rift S $399 and Oculus Quest VR headsets in May 2019.
Facebook declared Instant Games in November 2016, that includes light games for Messenger and Facebook applications that are based on the HTML5 S/W stack. A year ago, it brought Facebook Gaming, an opponent to Amazon’s Twitch that enables its users to livestream their game on social media.
The organization claims there are over 700 million users every month that engage with gaming content with some or the other way. “It is not very hard to expect that since it is gaming and on the grounds that Facebook is too big to such an extent that maybe this is a specialty,” is what Facebook’s gaming head of product, Vivek Sharma has to say.