Transaction expected to close in Q2 of this year.
by Scott Lowe
Facebook has announced that it will acquire Oculus VR, makers of the Oculus Rift for $2 billion. Announced today, the social networking giant will acquire the Oculus VR for $400 million in cash and 23.1 million in Facebook shares.
“While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas.” a Facebook press release read. “Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.”