Playgiga: Facebook is entering the cloud-gaming market with its PlayGiga acquisition

This story was delivered to Business Insider Intelligence Digital Media Briefing subscribers earlier this morning.To check to see if you already have access to Business Insider Intelligence through your company, click here.On Wednesday, Facebook confirmed the acquisition of PlayGiga, a Madrid-based company that specializes in cloud gaming, per CNBC. Facebook has been building out its gaming business since 2016 with the launch of Instant Games, which provides casual gaming experiences to Facebook and its Messenger apps.Business Insider IntelligenceIt followed that up last year with the launch of Facebook Gaming, a live-streaming platform meant to rival Amazon's Twitch. And now Facebook is following the trend set by Microsoft and Google with a push into the budding cloud gaming space: Google's Stadia launched in early November to some mixed reviews and Microsoft's xCloud platform is set to arrive next year. Though the acquisition doesn't guarantee that Facebook will release its own cloud gaming service, PlayGiga's library of 300+ games and streaming capabilities certainly reduce the barriers to doing so.See the rest of the story at Business InsiderSee Also:RateSetter is targeting financial advisors with its new serviceTime spent on media is climbing in India - but digital ad spend could be on the skidsEsports Ecosystem Report 2020: The key industry players and trends growing the esports market which is on track to surpass $1.5B by 2023