The Social Media Giant has recently acquired the Spanish-based Cloud Gaming start-up, PlayGiga to expand its gaming roots across the globe. PlayGiga was previously providing its services across Italy, Argentina, Chile and Spain.
The deal was confirmed by CNBC, earlier reported in the last week by Spanish News Cinco Dias. The Spanish news reported that PlayGiga’s acquiring was in process at 70 million euros ($78 Million).
Following the confirmation of the acquiring, Facebook Gaming tweeted, “We’re thrilled to welcome PlayGiga to the Facebook Gaming team”
PlayGiga was founded in 2013 and was delivering its services across Europe. It was preliminary funded by Adara Ventures at Series A funding. The Spanish Gaming Company paired with Telcos in May to launch streaming game technology for 5G which will essentially help tech companies to reach more mobile gamers.
The company also developed a Gaming-as-a-Service Platform collaborated with Intel’s Visual Cloud Platform and paired with Telcos to offer games streaming across Europe. Company future ventures included the expansion of their services in Middle East.
Facebook has been eager to expand its gaming community, which claims to have more than 700 million users monthly. Last month, Facebook agreed to buy Beat Games which developed the most popular Virtual Reality Title, Beat Saber.
Facebook has also included its Gaming hub into the Facebook’s main navigation bar after its launch as a separate app. The Gaming hub provides a live game streaming service, which was launched last year to compete with platforms like Twitch and Instant Games.