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Facebook To Acquire Oculus, Virtual Reality Headset Maker

It seems Facebook is on shopping spree and in no mood to miss any deal worth grabbing. The echoes of Facebook WhatsApp merger is still in the air and now Facebook is all set to buy Oculus, leaders in virtual reality technology and brain behind virtual reality headset, the Oculus Rift. An official announcement from Facebook revealed the agreement that costs Facebook approximately $2 billion, which comprises $400 million in cash and 23.1 million shares of Facebook common stock valued at $1.6 billion.

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Through this deal Facebook is looking forward to expand Oculus reach. Oculus technology works in areas such as communications, media entertainment and education.Zukerberg believes that the deal will extend a chance to create a brand new social platform and will change the whole framework of communication and gaming. In his statement, Brendan Iribe, CEO Oculus told:

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We 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.

Story:  Facebook To Acquire Oculus

Sumant Singh
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Sumant Singh

Sumant covers technology content for blogging republic. He writes on latest gadgets, smartphones, mobile apps and other happenings in digital world. He is an avid retro music fan and junk food maniac.
Sumant Singh
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