Facebook Bought Oculus Rift VR!

Oculus Rift VR
Image courtesy of Tested.com

So in a move that is making the whole Internet go up in flames, Oculus VR announced yesterday that they are being bought by Facebook. In a Deal worth $2 billion, Facebook will be acquiring all of Oculus VR, the deal, while not finalized yet, is expected to be complete in 2Q 2014.

Facebook founder and CEO Mark Zuckerberg had this to say of the deal “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 facebook logo

Oculus also seemed quite happy about the deal saying “We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” Brendan Iribe, co-founder and CEO of Oculus VR says in a PR release. “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.

The Deal will be a mix of around $400 Million in cash, and the remainder being Facebook shares once the deal is finalized.

Sooo…. It is looking like VR is ramping up in the coming months and I will be very curious how this changes things going forward, not only for Oculus but for the Sony VR platform as well.

Via Press Release

By Dayne “Anjel” Cody
@DayneCody

Advertisements