Facebook Buys Oculus Rift for $2 Billion – What’s Next?

By   /   Mar 25, 2014

Following its recent acquisition of Whatsapp for a shocking $19 billion, Facebook is now shilling out $2 billion to acquire Oculus Rift, the company’s virtual reality headset.

“I’m excited to announce that we’ve agreed to acquire Oculus VR, the leader in virtual reality technology,” said Facebook CEO Mark Zuckerberg in a statement today.

The $2 billion deal includes $400 million in cash payouts, with the rest being made up of 23.1 million shares of Facebook common stock. The deal is still not finalized and will be in Q2 2014. However judging from the excited statements released by both companies, it’s pretty much a done deal.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Zuckerberg. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

He continued saying that they will initially work with Oculus on games but will then expand into a variety of other forms. “Imagine sharing not just moments with your friends online, but entire experiences and adventures.”

Oculus VR passed its own press release where Brendan Iribe, the co-founder and CEO, said that he and his team “are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world.”

“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.”

Oculus has so far only released developer kits of their Rift headset. The company though plans to release a kit for commercial use by next year. So how do you think this whole scenario is going to impact Facebook and those gamers who were looking forward to experience the Virtual Reality through Oculus Rift? Share your views with us.

Source: Facebook

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