Facebook Buys Cloud Gaming Company PlayGiga for Undisclosed Amount

To gain a footprint in the cloud-based game streaming market, Facebook has acquired Spanish video gaming firm PlayGiga.

According to a CNBC report, the acquisition comes at a time when tech giants such as Apple and Google have launched cloud-based video game streaming services such as Apple Arcade and Google Stadia.

Microsoft has also previewed its xCloud game streaming service.

Cinco Dias, a Spanish business newspaper, claimed that Facebook acquired PlayGiga for about $ 78 million (about Rs 554 crore).

A Facebook spokesperson said on Wednesday, "We are thrilled to welcome Plaguega to the Facebook gaming team."

"We are excited to announce that the Plague team is moving forward with something new. We are continuing our work in cloud gaming, now with a new mission. We support all our partners and customers over the years Want to thank you for. " The company has written on its website.

Facebook acquired VR headset maker Oculus in 2014 for $ 2 billion (approximately Rs 14,210 crore). The social networking giant has also started Facebook Gaming - a live-stream service that allows users to share their gameplay.

The advent of cloud-based game streaming services such as Apple Arcade, Google Stadia and the upcoming Microsoft xCloud is all set to change the way people play games, leaving much of the traditional gaming industry ruled by consoles like Microsoft Xbox and Sony PlayStation Existential threat.

Cloud-based gaming is the new live-streaming trend after music and video. A major advantage of cloud gaming over traditional is the low cost of setup that can be played on smartphones, tablets, PCs, and even TVs.