Breaking News: Facebook Buys Oculus Rift In $2 Billion Deal

/ 6 years ago

Facebook have just blown the lid off of one of the biggest stories we’ve had all week! Oculus Rift is now under the ownership of Zuckerberg and his team at Facebook.

The deal has just been announced as Facebook and Oculus reached a deal worth a total of $2 billion, this includes $400 million in cash payouts, with the rest being padded out with Facebook shares, as well as some additional earn-out in opertunities in cash and stock based on them reaching certain milestones, which could add another $300 million to the deal. This is obviously HUGE news, with Oculus Rift now in a position where funding and further development shouldn’t be an issue.

“This is really a new communication platform,” Zuckerburg said. “By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures.”

“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, said. “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.”

So there you have it, the future of Oculus Rift is still going to be one awesome gaming device, but now with the financial backing and support of Facebook, the future is even brighter for the VR headset and at $2 Billion, Zuckerberg clearly thinks it’s worth the investment.

Thank you Oculus for providing us with this information.

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