Facebook is going to own Oculus VR

Sections: Developers, Game-Companies

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oculus rift

And now it’s time for the most bizarre story of the day. Facebook announced it plans to acquire Oculus VR, the company responsible for the Oculus Rift for $2 billion in cash and stock. Specifically, Facebook will pay $400 million in cash and 23.1 million shares of stock. This announcement sent shockwaves throughout the industry as no one can quite understand why Facebook would be interested in a company that was poised to bring virtual reality gaming to the main stream.

Facebook is looking at long-term plans for Oculus VR that extend beyond gaming.

“Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas,” the official release reads. “Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.”

The Oculus Rift hardware is still in development, and it will continue to be worked on.

Source [Facebook]

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