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Facebook buys Spanish cloud gaming company PlayGiga

Facebook Inc. acquired Spanish cloud gaming company PlayGiga SL, a spokesperson of the social media company confirmed to CNBC.

While financial terms of the deal were undisclosed, CNBC cited an earlier report from Spanish business newspaper Cinco Dias to note that the deal price was about €70 million.

PlayGiga, meanwhile, said on its website that the company is "moving on to something new." The Madrid-based company carries more than 300 games from various game publishers, such as Capcom Co. Ltd., Sega Entertainment Co. Ltd. and The Walt Disney Co.