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Facebook to Acquire Oculus VR Firm For $2 Billion

by Todd Haselton | March 25, 2014March 25, 2014 2:43 pm PST

Oculus Crystal Cove 008

Oculus has been pushing the boundaries of what’s capable with virtual reality, so much so that it almost quite literally blew out socks off during CES 2014 this year. It seemed like the company was on the cusp of something incredibly great — well on its way to perhaps changing part of the gaming landscape Today, we learned it will soon fold into Facebook. The social network announced Tuesday evening that it will acquire Oculus for $2 billion. To be more specific, that includes $400 million in cash plus 23.1 million shares of Facebook stock, which valued at around $69.35 per share equals the additional $1.6 billion.

Zuckerberg said that Facebook’s goal here is to get “ready for the platforms of tomorrow,” and that Oculus “has the change to create the most social platform ever, and change the way we work, play and communicate.” Zuckerberg used the word “play” which hopefully means it’s going to continue to push the Oculus as a gaming machine.

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” said Brendan Iribe, co-founder and CEO of Oculus VR. “We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.”

The deal is set to close during the second quarter of this year.


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...