Facebook Acquires Cloud Video Gaming Company PlayGiga

Facebook seems to be working on a new vision for its gaming products. The company may not be a huge player in the gaming industry, but it has invested a ton into its gaming products for years. And now, Facebook has acquired Spanish cloud video gaming company PlayGiga to further expand its gaming efforts. The company confirmed the acquisition to CNBC, though it declined to reveal any details about the acquisition. Facebook was rumored to have acquired PlayGiga last week by Spanish business newspaper Cinco Dias. The acquisition reportedly cost Facebook approximately 70 million euros. PlayGiga previously ran a cloud gaming service in Europe after being founded in 2013, though the company’s service failed to gain any traction. “We are excited to announce that the PlayGiga team is moving on to something new. We are continuing our work in cloud gaming, now with a new mission. We want to thank all of our partners and customers for their support over the years,” PlayGiga said on its website.