Facebook to acquire company behind Oculus Rift VR headset for $2 billion

Facebook has announced today that it will buy Oculus VR, the company behind the massively popular virtual reality gaming headset 'Oculus Rift', for about $2 billion in total - including $400 million in cash and 23.1 million shares of Facebook stock.

According to Facebook, the company hopes to expand the Oculus Rift's potential to "new verticals," including communications, media, entertainment and education, in addition to its current potential in the gaming market. Facebook CEO Mark Zuckerberg expanded on their reasoning for the purchase, saying:

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

Oculus VR has already seen significant popularity amongst the gaming community with the release of its development kit, a head-mounted virtual reality display available for purchase by developers, beta testers and early adopters. The company has heard praise from many, and has previously received an investment of $75 million from venture capitalist Marc Andreessen as well as a Kickstarter campaign which raised close to $2.5 million in initial funding.

Facebook plans to hold a press conference on the purchase at 6:15 p.m. EST, with a live webcast viewable on their investor website. Additionally, viewers can listen in on the conference at (866) 751-3284.

Source: FacebookImage via Guardian LV

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