Facebook Acquires Cloud Gaming Startup PlayGiga

The Madrid-based company was founded in 2013

Reports valued the deal at nearly $77.8 million - Credit by PlayGiga
Headshot of David Cohen

A notice on the homepage for Madrid-based cloud gaming startup PlayGiga says its team is “moving on to something new,” and that something new is Facebook.

The social network confirmed its acquisition of PlayGiga, with a spokesperson saying, “We’re thrilled to welcome PlayGiga to the Facebook Gaming team.”

Terms were not disclosed, but Spanish newspaper Cinco Dias reported that week that the deal was valued at about 70 million euros (nearly $77.8 million).

PlayGiga was founded in 2013.

Facebook said when it unveiled its Facebook Gaming tab in March that more than 700 million people play games, watch video-game-related videos, or engage with video-game-related groups on the social network each month.

The social network acquired Prague-based Beat Games, the developer of popular virtual reality game Beat Saber, in November.

david.cohen@adweek.com David Cohen is editor of Adweek's Social Pro Daily.
Publish date: December 19, 2019 https://dev.adweek.com/digital/facebook-acquires-cloud-gaming-startup-playgiga/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT