News: Facebook to acquire Oculus VR for $2bn

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News: Facebook to acquire Oculus VR for $2bn

Added: 25.03.2014 21:37 | 0 views | 0 comments

Social network company reaches agreement with VR firm in multibillion dollar deal.

News: Facebook to acquire Oculus VR for $2bn news

The deal will see Facebook paying $400m in cash and providing 23.1m shares of common stock, valued at approximately $1.6bn.

Facebook says that its goal for Oculus is to extend its "existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas".

The company also claims that virtual reality technology "is a strong candidate to emerge as the next social and communications platform".

"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," said Facebook...