PlayGiga, a Madrid-based cloud gaming startup was acquired by Facebook. The startup recently confirmed about the deal to CNBC, this was the week after an international publication reported that Facebook was in talks to buy PlayGiga for about 70 million euros.
Here’s elucidating on the salient features from the deal:
- Founded in 2013, PlayGiga fetched Series A round of funding from Adara Ventures
- The startup has been working with telcos in order to create a streaming game technology for 5G, in order to reach more mobile gamers
- Developed gaming-as-a-service platform, by using Intel’s Visual Cloud platform
- This would enable telcos and communication service providers to offer streaming games to customers
Facebook has been quite active in building out its gaming business, which has more than 700 million monthly users. In fact, Facebook even added its gaming hub to Facebook’s main navigation menu, after a standalone app was launched.
Other Investments By Facebook
While Facebook has shown a substantial interest in investing in Indian tech startups, the first investment it made in startup Meesho. The company recently announced that the Indian market is a bullish one and the future seems promising!