Facebook has confirmed a deal to acquire a Spanish movie gambling company PlayGiga. The move to acquire Play Giga is being seen as a part of Facebook’s strategy to up its game in the Cloud sport streaming market.
CNBC reports for Facebook the deal is also crucial especially when all top tech giants like Apple and Google have launched Cloud video sport streaming solutions.
The two top tech companies have recently launched Arcade and Stadia. Microsoft also hasn’t been behind as it is also in the loop with its xCloud game streaming agency.
A local newspaper report claims that the social media giant Facebook has cracked the Play Giga deal for approximately $78 million.
In a statement to the press issued on Wednesday, a Facebook spokesperson said that they were thrilled to welcome PlayGiga into the Facebook Gaming group. PlayGiga was launched in 2013.
Play Giga on its site said: “We’re excited to announce the PlayGiga staff is shifting To something new. We’re currently continuing our work using a new assignment, now in cloud gambling. We wish to thank all our partners and clients for their support through time.”
Game streaming services are the next big thing and could send gaming consoles like Sony PlayStation and Microsoft Xbox out of business. Game streaming services like Google Stadia and Apple Arcade and Microsoft XCloud is all set to redefine the gaming experience and in turn, dominate the future of gaming.