Facebook has acquired cloud gaming company PlayGiga

Facebook has bought Spanish company PlayGiga for an estimated €70 million (about $78 million). Spanish newspaper Cinco Dias first reported the deal was coming last week –– along with the price –– and it was confirmed by a Facebook spokesperson in a discussion with CNBC. PlayGiga’s also trumpeting the news on its landing page.

No mobile for now — PlayGiga was founded in 2013 and offers more than 300 games from big-name companies like Warner Brothers, Disney, Capcom and Sega, among others. The company’s proprietary technology promises low latency (<30ms) and supports play on TVs, PCs, and Macs, but not on mobile phones or tablets. At least, not yet.

Getting serious about gaming — Facebook bought virtual reality company Oculus in 2014 for $2 billion and is no doubt eager to have its own cloud-gaming platform given the growth in the sector. Google Stadia launched last month, Microsoft has its own forthcoming service, Project xCloud, PlayStation says it’s going to improve its PlayStation Now service, EA’s testing its own Project Atlas service, and Valve, Nvidia, Verizon, and even Amazon are all expected to enter the fray, too.

If there’s anything Facebook hates more than having to appear before Congress, it’s the risk of being left out of something.