Social media giant Facebook has acquired cloud based video gaming firm PlayGiga.
The deal value has not been disclosed but according to Spain, local business newspaper Facebook acquired PlayGiga for about $78 million.
“We’re thrilled to welcome PlayGiga to the Facebook Gaming team. 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 ” a Facebook spokesperson said in a press note on its website.
Founded in 2013, PlayGiga enables users to play premium videogames on PC / Mac or TV through an affordable monthly subscription.
The social networking giant has also launched Facebook Gaming — a live-stream service that allows users to share their gameplay.
The arrival of Cloud-based game streaming services like Apple Arcade, Google Stadia and the upcoming Microsoft XCloud is all set to change the way people play games, threatening the very survival of traditional gaming industry ruled by consoles like Microsoft Xbox and Sony PlayStation.
Cloud-based gaming is the new livestreaming trend after music and video. One big advantage of cloud gaming over the traditional one is lower cost of setup which can be played on smartphones, tablets, PCs and even TV.