Facebook to Acquire Oculus VR for $2 Billion USD


Kojo Jumah


The creator and driving force behind Gentleman's Division. Kojo is ...

Facebook today announced that it has reached an agreement to acquire Oculus VR for a total of approximately $2 billion USD. This includes $400 million USD in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion USD). Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company’s virtual reality headset, the Oculus Rift. Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Facebook founder and CEO, Mark Zuckerberg. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.” For more information head on over to Facebook.