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March 25, 2014

Facebook to acquire Oculus VR for $2 billion

Facebook to acquire Oculus VR for $2 billion

You could soon enter the bodies of your Facebook friends and see your timeline in 3D as Facebook is to acquire Oculus VR, the firm behind the immersive 3D Oculus Rift for $2 billion.

This acquisition includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share).  The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus is the leader in immersive virtual reality technology and has already built strong [...]

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