Facebook To Buy Oculus Rift Maker For $2 Billion

Facebook has announced that they are purchasing Oculus VR, the makers of the Oculus Rift, and the deal is worth a total of $2 billion to Oculus VR.

Facebook will pay a total of $2 billion in cash and stock for Oculus Rift, this includes $400 million in cash and 23.1 million Facebook shares, there is also another $300 million earn out that is subject to certain milestones.

Oculus Rift

“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.”

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” said Brendan Iribe, co-founder and CEO of Oculus VR. “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 Rift originally started out as a Kickstarter project, and has gained support from the gaming community and developers, although it appears that some are less than pleased about the Facebook deal.

Source TechCrunch, The Guardian

Filed Under: Gaming News, Top News